USD JPY Technical Analysis September 4, 2018
The USD rose 0.01% against the JPY on Monday and closed at 111.10. Today in the European session while USD JPY technical analysis September 4, 2018 is preparing at 8:15 GMT, the USD/JPY trading at 111.35, which is 0.22% higher against JPY from yesterday’s close.
In Japan, data showed that the Japanese Manufacturing PMI: Final data showed that Japan’s Nikkei manufacturing PMI rose to 52.5 in August of 2018 from 52.3 in July and in line with the record. The recent reading pointed to the extension of the current growth cycle in the manufacturing sector for two years.The longest uninterrupted stretch since the global financial crisis. Companies have raised production and employment. While new business has been obtained primarily from domestic markets, where export orders have fallen. At the same time, corporate sentiment fell to its lowest level in 21 months amid the uncertainties of global geopolitics. With regard to inflation, cost pressures continued, prompting companies to increase selling prices at a higher rate in about ten years.
When the US market opens, the economic data will release such as Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, IBD/TIPP Economic Optimism and Total Vehicle Sales
USD JPY technical analysis September 4, 2018
The pair is expected to find support at 110.85. And a fall through could take it to the next support level of 110.68. The pair is expected to find its first resistance at 111.35, and a rise through could take it to the next resistance level of 111.53. For today the expected trading range is between 110.50, Support and 111.25 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 110.85 Support 2: 110.68 Support 3: 110.53
Resistance Levels: Resistance 1: 111.20 Resistance 2: 111.35 Resistance 3: 111.53
Previous day`s high: 111.17
Previous day`s low: 110.84
USD/JPY Buying Opportunity for Intraday Trading September 4, 2018
Buy near the support area 110.85 and 110.68 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji
USD/JPY Selling Opportunity for Intraday Trading September 4, 2018
Sell near the resistance area 111.35 and 111.53 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji
EUR/USD Technical Analysis September 4, 2018