Forex Analysis Of USD/JPY For Thursday, July 19
First, we look into the previous day trade and what happened on July 18, 2018, and it opened at 112.866 and went high at 113.083 and gone low 112.701 and finally closed at 112.831. The calculated pivot point for the day is 112.872.
The difference between high and low was nearly 0.372 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, from high to higher levels for few days due to dollar become strong and the trade war with China. If EURUSD goes high USDJPY goes down and vice versa and watch two pairs for trading before entering into a trade. For many days the range for this pair was between 109.360 to 114.740. Hourly traders especially one-hour chart followers are waiting for an opportunity to buy at 113.392, 114.54 levels or sell at 112.200, 111.578 levels to get maximum profit.
LEVELS TO BE WATCHED FOR TRADERS FOR THEIR TRADING
Level |
First Level |
Second Level |
Third Level |
Selling Level |
112.30 |
112.05 |
111.72 |
Buying Level |
113.40 |
113.80 |
114.20 |
EVENTS TO BE OBSERVED AT THESE TIMES TO TAKE MORE ADVANTAGE
USDJPY FUNDAMENTALS TODAY
GMT |
Event |
Previous |
---|---|---|
12:30 |
USD Continuing Jobless Claims |
1.739M |
12:30 |
USD Initial Jobless Claims |
214K |
12:30 |
USD Philadelphia Fed Manufacturing Survey |
19.9 |
13:00 |
USD Fed's Quarles speech |
|
14:30 |
USD EIA Natural Gas Storage change |
51B |
23:30 |
JPY National CPI Ex Food, Energy (YoY) |
0.3% |
See the levels in the Chart and trade accordingly