E Forex Analysis Of USD/JPY For Tuesday, August 14

First, we look into the previous day trade and what happened on August 13, 2018, and the USD/JPY pair opened at 110.445 and went high at 110.906 and gone low 110.125 and finally closed at 110.628. The calculated pivot point for the day is 110.553.

The difference between high and low was nearly 0.781 points and there was a very good chance for traders to take the opportunity between low to high levels and finally benefit.

The pair is going to high levels from support levels and traders should be cautious since it reached the overbought region and they should buy at the support levels for more profits. Four-hour chart followers may consider buy at 110.878, 111.481 and sell at 110.509, 109.790 levels.

LEVELS TO BE WATCHED FOR TRADERS FOR THEIR TRADING

Level

First Level

Second Level

Third Level

Selling Level

110.00

109.70

209.40

Buying Level

111.20

111.50

111.80

EVENTS TO BE OBSERVED AT THESE TIMES TO TAKE MORE ADVANTAGE

USDJPY FUNDAMENTALS TODAY

GMT

Event

Actual

Previous

04:30

 JPY Capacity Utilization

-2.2%

-2.1%

04:30

 JPY Industrial Production (MoM)

-1.8%

-2.1%

04:30

 JPY Industrial Production (YoY)

-0.9%

-1.2%

10:00

 USD NFIB Business Optimism Index

107.9

107.2

12:30

 USD Export Price Index (YoY)

 

5.3%

12:30

 USD Import Price Index (MoM)

 

-0.4%

12:30

 USD Export Price Index (MoM)

 

0.3%

12:30

 USD Import Price Index (YoY)

 

4.3%

12:55

 USD Redbook index (MoM)

 

0.9%

12:55

 USD Redbook index (YoY)

 

5.6%

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