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Technical analysis of USD/JPY for December 04, 2015

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In Asia, Japan will release data the Consumer Confidence and Average Cash Earnings y/y. The US will publish some economic data on the Trade Balance, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during the Asian session, but with medium to high volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 123.31.

Resistance. 2: 123.07.

Resistance. 1: 122.83.

Support. 1: 122.53.

Support. 2: 122.29.

Support. 3: 122.05.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.



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