E Forex Analysis Of USD/JPY For Monday, August 6

First, we look into the previous day trade and what happened on August 3, 2018, and the USD/JPY pair opened at 111.639 and went high at 111.776 and gone low 111.093 and finally closed at 111.225. The calculated pivot point for the day is 111.364.

The difference between high and low was nearly 0.683 points and there was a very good chance for traders to take the opportunity between low to high levels and finally benefit.

The USD/JPY pair is going to high levels from support levels and traders should buy at support levels for more profits. Four hour chart followers may consider buy at 111.481, 111.855 and sell at 110.902, 110.490 levels.

LEVELS TO BE WATCHED FOR TRADERS FOR THEIR TRADING

Level

First Level

Second Level

Third Level

Selling Level

111.10

110.70

110.25

Buying Level

111.54

111.73

111.98

EVENTS TO BE OBSERVED AT THESE TIMES TO TAKE MORE ADVANTAGE

USDJPY FUNDAMENTALS TODAY

GMT

Event

Previous

n/a

 USD Loan Officer Survey

 

15:30

 USD 3-Month Bill Auction

2%

15:30

 USD 6-Month Bill Auction

2.16%

23:30

 JPY Overall Household Spending (YoY)

-3.9%

23:50

 JPY JP Foreign Reserves

$1,258.7B

See the levels in the Chart and trade accordingly:

(Click on image to enlarge)

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