InstaForex - Analytics

    InstaForex

    701.25 6.25/10
    62% of positive reviews
    Real

    Technical analysis of USD/JPY for May 16, 2016 2016-05-16

     

    2_USDJPY.jpg

     

    Show full picture

     

    In Asia, Japan will release the Prelim Machine Tool Orders y/y and PPI y/y. The US will release some economic data such as the TIC Long-Term Purchases, NAHB Housing Market Index, and Empire State Manufacturing Index. So there is a probability the USD/JPY will move with low to medium volatility during this day.

    TODAY'S TECHNICAL LEVELS:

    Resistance. 3: 109.33.

    Resistance. 2: 109.12.

    Resistance. 1: 108.90.

    Support. 1: 108.65.

    Support. 2: 108.44.

    Support. 3: 108.22.

    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.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree