After the Fed's plan to start tappering in the US earlier, all the market participant thought it was not a good sign for them, so that is why all the regional stock indices dropped into the red zone, including metals such as Gold (XAU/USD) and all the major pairs against USD. Friday, we will see the US indicators - Non Farm Payrolls and Unemployment Rate, this news will make the major pairs move back to north or this will make USD go higher.
TODAY's TECHNICAL LEVELS:
Resistance. 3 : 98.80.
Resistance. 2 : 98.61.
Resistance. 1 : 98.41.
Support. 1 : 98.17.
Support. 2 : 97.98.
Support. 3 : 97.78.
DESCRIPTION:
Please, pay attention to the levels of support 3 (97.78) and resistance 3 (98.80). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
Best regards,
Official Analyst of InstaForex Group
InstaForex Group
http://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
blog.mt5.com/arief
http://www.mt5.com/forex_analysis_award/profile/index/arief
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