FOREX TECHNICAL & NEWS ANALYSIS:USD/JPY IS PREFERABLE TO TRADE TODAY, IF THE USD ECONOMIC EVENTS SUPPORT
USD/JPY can be a very suitable forex pair to trade today. Technical analysis supports to go long on this forex pair. The pair is at the level of daily support-4 and weekly support-3 of Camarilla pivot point analysis. The technical analysis clearly supports to go long on the pair.
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| USD/JPY 4hr chart, source: metatrader4.com |
The pair may reach at 101.242 level, if the USD retail sales come lower than expected. The 30m and 1hr technical analysis already supporting to go long on the pair.
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| USD/JPY 1hr chart, source: metatrader4.com |
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| USD/JPY 30m chart, source: metatrader4.com |
The ultimate trend of the pair today will be determined by the upcoming USD economic data. If the USD data are positive, then we should go long immediately.
Published @ 10:50 AM, Thursday, March 13, 2014
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