FX.co ★ USD/JPY intraday technical levels for October 29, 2013

During next Thursday when the FOMC meeting, the market will move in a tight range, because many market participants will be waiting what the Fed's will announce. Some of economists say the Fed's will clear where the investment will go in the futures, so please be careful and be wise with your trade.

TODAY's TECHNICAL LEVELS:

Resistance. 3 : 98.06.

Resistance. 2 : 97.87.

Resistance. 1 : 97.68.

Support. 1 : 97.44.

Support. 2 : 97.25.

Support. 3 : 97.06.

DESCRIPTION:

Please, pay attention to the levels of support 3 (97.06) and resistance 3 (98.06). 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,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

https://instaforex.com

Email : Arief.jakarta@indo.instaforex.com

blog.mt5.com/arief

https://www.mt5.com/forex_analysis_award/profile/index/arief

Disclaimer :

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.