On Thursday, volatility in the market is expected to be moderate and important macroeconomic statistics, which can affect movement direction in the pair UDS/JPY, is not expected. On Friday, investors shall focus attention on the US unemployment report: according to the preliminary data this index will remain unchanged at the level of 5.4% and this fact can have a positive impact on the USD.
On the daily chart moving average lines with the periods 20, 50 and 100 are below the price line and directed upward, confirming current uptrend. MACD histogram is in the positive zone; its volumes are rapidly increasing, which also confirms probability of the upward movement.
The nearest support level is 123.71 (this week lows). Next support levels: moving average lines with the periods 20, 50 and 100 (122.72, 121.36 and 120.01 respectively). Strong resistance level: 118.86 (lows of the past three months) and 125.00 (important psychological level).
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