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Technical analysis of USD/JPY for May 15, 2015

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In Asia, Japan will release data for Consumer Confidence with the PPI y/y. The US is expected to release economic data on TIC Long-Term Purchases, Prelim UoM Inflation Expectations, Prelim UoM Consumer Sentiment, Industrial Production m/m, Capacity Utilization Rate, and Empire State Manufacturing Index. So, there is a strong probability that USD/JPY will move with low to medium volatility during a day.


TODAY TECHNICAL LEVELS:

Resistance. 3: 119.87.

Resistance. 2: 119.64.

Resistance. 1: 119.41.

Support. 1: 119.12.

Support. 2: 118.89.

Support. 3: 118.65.


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.

Uitgevoerd door, Analytische expert
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