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Technical analysis of USD/JPY for March 01, 2016 2016-03-01

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In Asia, Japan will release the 10-y Bond Auction, Final Manufacturing PMI, Capital Spending q/y, Unemployment Rate, and Household Spending y/y. The US will release some economic data as well such as Total Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. So there is a probability the USD/JPY pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 112.87.

Resistance. 2: 112.65.

Resistance. 1: 112.43.

Support. 1: 112.16.

Support. 2: 111.94.

Support. 3: 111.72.

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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