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FxWirePro:USD/JPY trade idea

  • Demand zone – 108.65-109.15.
     
  • Major resistance – 109.45 (trend line joining 109.86 and 109.48, 38.2% retracement of 111.58 and 108.13).
     
  • USD/JPY has shown a jump for past two days after forming a bottom at 108.13. The pair made a high of 109.48 and slightly declined from that level. It is currently trading around 109.12.
     
  • Any break above 109.45 will take the pair till 109.86 (50% retracement of 111.58 and  108.13)/110.95 (23.6% retracement of 115.51 and 108.13).
     
  • On the lower side, minor support is around 108.72 and any break below will drag the pair till 108/107.30 (161.8% retracement of 109.48 and 108.13).

    It is good to buy above 109.45 with SL around 109 for the TP of 110/110.95

Resistance                                                                               

R1-109.45              

R2 -109.85

R3- 110.95

Support                   

S1-108.72

S2-108

S3-106.99

 

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December 10 23:50 UTC Released

JPBusiness Survey Index*

Actual

9.7 %

Forecast

Previous

9.4 %

December 9 01:30 UTC Released

CNPPI YY*

Actual

5.8 %

Forecast

5.9 %

Previous

6.9 %

December 11 07:00 UTC 7979m

TRCurrent Account Balance*

Actual

Forecast

Previous

-4.527 Bln USD

December 11 09:00 UTC 199199m

ITRetail Sales SA MM

Actual

Forecast

Previous

0.9 %

December 11 09:00 UTC 199199m

ITRetail Sales NSA YY

Actual

Forecast

Previous

3.4 %

December 11 11:30 UTC 349349m

TREndYear CPI Fcst/Cb Svy*

Actual

Forecast

Previous

10.68 %

December 11 15:00 UTC 559559m

USEmployment Trends*

Actual

Forecast

Previous

135.6 tln

December 11 15:00 UTC 559559m

USJOLTS Job Openings*

Actual

Forecast

Previous

6.093 Mln

December 11 21:00 UTC 919919m

KRExport Price Growth YY*

Actual

Forecast

Previous

8 %

December 11 21:00 UTC 919919m

KRImport Price Growth YY*

Actual

Forecast

Previous

6.8 %

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