First, we look into the previous day trade and what happened on July 30, 2018, and the USD/JPY pair opened at 111.912 and went high at 111.158 and gone low 110.883 and finally closed at 111.046. The calculated pivot point for the day is 111.029
The difference between high and low was nearly 0.275 points and there was a good chance for traders to take the opportunity between low to high levels and finally benefit.
The pair is going to high levels from resistance levels, it may be a breakout trend for today and traders should be cautious since it reached an overbought region and you need to buy at the support levels for more profits. Four-hour chart followers may consider buy at 111.176, 111.615 and sell at 111.043, 110.672 levels.
LEVELS TO BE WATCHED FOR TRADERS FOR THEIR TRADING
|
Level |
First Level |
Second Level |
Third Level |
|
Selling Level |
110.58 |
110.25 |
109.92 |
|
Buying Level |
111.77 |
112.20 |
112.63 |
EVENTS TO BE OBSERVED AT THESE TIMES TO TAKE MORE ADVANTAGE
USDJPY FUNDAMENTALS TODAY
|
GMT |
Event |
Actual |
Previous |
|---|---|---|---|
|
04:00 |
JPY Vehicle Production (YoY) |
4.6% |
3.8% |
|
05:00 |
JPY Consumer Confidence Index |
43.5 |
43.7 |
|
05:00 |
JPY Annualized Housing Starts |
0.915M |
0.996M |
|
05:00 |
JPY Construction Orders (YoY) |
-6.5% |
-18.7% |
|
05:00 |
JPY Housing Starts (YoY) |
-7.1% |
1.3% |
|
n/a |
JPY BoJ Press Conference |
||
|
12:30 |
USD Personal Consumption Expenditures - Price Index (YoY) |
2.3% |
|
|
12:30 |
USD Core Personal Consumption Expenditure - Price Index (MoM) |
0.2% |
|
|
12:30 |
USD Personal Spending |
0.2% |
|
|
12:30 |
USD Personal Consumption Expenditures - Price Index (MoM) |
0.2% |
|
|
12:30 |
USD Core Personal Consumption Expenditure - Price Index (YoY) |
2% |
|
|
12:30 |
USD Personal Income (MoM) |
0.4% |
See the levels in the Chart and trade accordingly:
(Click on image to enlarge)
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