E Forex Analysis Of USD/JPY For Monday, July 9

First, we look into the previous day trade and what happened on July 6, 2018, and it opened at 110.604 and went high at 110.778 and gone low 110.373 and finally closed at 110.447. The calculated pivot point for the day is 110.532.

The difference between high and low was nearly 0.405 points and there was a good chance for a trader to take the opportunity between low to high levels and finally benefited. Now the opportunity is, consolidation and sideways trade for few days. If EURUSD goes high USDJPY goes down and vice versa and watch two pairs for trading before entering into trade. Hourly traders are waiting for an opportunity to sell at 110.00 level to get maximum profit. For many days the range for this pair was between 109.360 to 111.125. Traders should watch for lower levels since there was no real impact of nonfarm payrolls event.

 

Levels

First Level

Second Level

Third Level

Selling Levels

110.21

110.05

109.77

Buying Levels

110.90

111.13

111.40

EVENTS TO BE OBSERVED BY THE TRADERS AT THESE TIMES

GMT

 EVENT

ACTUAL

  PREVIOUS

00:30

 JPY Bank of Japan Governor Kuroda Speech

   

05:00

 JPY Eco Watchers Survey: Current

48.1

47.1

05:00

 JPY Eco Watchers Survey: Outlook

50.0

49.2

13:10

 USD FOMC Member Kashkari Speech

   

15:30

 USD 3-Month Bill Auction

 

1.94%

15:30

 USD 6-Month Bill Auction

 

2.085%

19:00

 USD Consumer Credit Change

 

$9.26B

19:30

 USD CFTC USD NC net positions

   

19:30

 USD CFTC Oil NC net positions

   

19:30

 USD CFTC Gold NC net positions

   
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