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Daily USD JPY Technical Analysis for December 5, 2016

Daily USD JPY Technical Analysis for December 5, 2016

USD JPY Technical Analysis for December 5, 2016

USD JPY Technical Analysis Overview

Prev. Close      113.52
Open               113.20
Day’s Range   112.88 – 113.86
52 wk Range   99.08 – 123.60
1-Year Return  – 7.66%

 

Technical Support and Resistance Forecast

We can summarize from the daily USD JPY Technical analysis that, the pair possibly will find the immediate support at 113.09. If, market breaks the first support then it will go for the following support to test. Following supports are 112.64 and 112.40. On the other side the market has immediate resistance 113.78. If, market breaks the primary resistance level then, market will go for the new resistance level 114.02 and 114.47.

We will have FOMC Member Dudley Speaks later today and ISM Non-Manufacturing PMI data in USA going to be released today.

Along with technical analysis following economic event are very important to analyze the financial market properly.

Important Economic Events in USA: (GMT +5.30)

  1. 7:00pm USD    FOMC Member Dudley Speaks
  2. 8:15pm USD    Final Services PMI
  3. 8:30pm USD    ISM Non-Manufacturing PMI
  4. 8:30pm USD    Labor Market Conditions Index m/m