USD JPY Technical Analysis December 7, 2018
The USD declined 0.45% against the JPY on Thursday and closed at 112.66. Today in the European session while USD JPY technical analysis December 7, 2018 is preparing at 7:15 GMT, the USD/JPY trading at 112.80, which is 0.12% higher against JPY from yesterday’s close.
The pair is expected to find support at 112.20. And a fall through could take it to the next support level of 111.72. The pair is expected to find its first resistance at 113.16, and a rise through could take it to the next resistance level of 113.66. For today the expected trading range is between 112.20, Support and 113.16 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 112.80 Support 2: 112.42 Support 3: 111.21
Resistance Levels: Resistance 1: 113.16 Resistance 2: 113.66 Resistance 3: 114.14
USD/JPY Buying Opportunity for Intraday Trading December 7, 2018
Buy near the support area 112.20 and 111.72 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
USD/JPY Selling Opportunity for Intraday Trading December 7, 2018
Sell near the resistance area 113.16 and 113.66 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.