Technical analysis: Important Intraday Levels for USD/JPY, October 01, 2019
In Asia, Japan will release the Final Manufacturing PMI, Tankan Manufacturing Index, Tankan Non-Manufacturing Index, and Unemployment Rate. The US will also publish some economic data such as Wards 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 LEVELS: Resistance. 3: 108.75. Resistance. 2: 108.54. Resistance. 1: 108.33. Support. 1: 108.05. Support. 2: 107.84. Support. 3: 107.63. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com
via Technical analysis: Important Intraday Levels for USD/JPY, October 01, 2019
# GBPUSD tests 61.8% and swing area The GBPUSD is in an up and down day. The GBPUSD moved higher earlier. That move was helped by better than expected retail sales. However the high price today stalled near the high price from last week near 1.3643, and rotated back lower on the USD buying. The subsequent move lower now has the price back toward the 61.8% retracement along with a swing area between 1.35969 and 1.36034. As I type, the price has dipped below that swing area. What next? If the price can stay below the 1.36034 area, that would be the best case scenario for the sellers with the next major targets coming in at the 100 hour moving average 1.3569 (blue line), and the 200 hour moving average at 1.35609 (green line). The 50% midpoint of the 2022 trading range is just below those levels at 1.35526 and would be a another target on further weakness. A move back above 1.36034 with momentum would have traders looking again toward 1.3618 to 1.36271 and then t...
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