USD/JPY intraday technical levels for December 16, 2013





During the FOMC meeting, the market participants will be cautious about opening positions, this issue will make the market move in a ranging situation before the FOMC meeting; Japan today will release some data like Tankan Manufacturing Index, Tankan Non-Manufacturing Index; and the US will only release some news such as US-Flash Manufacturing PMI, US-TIC Long-Term Purchases, US-Industrial Production m/m, so today the USD/JPY will move with low to medium volatility.

TODAY's TECHNICAL LEVELS:
Resistance. 3 : 103.48.
Resistance. 2 : 103.28.
Resistance. 1 : 103.08.
Support. 1 : 102.83.
Support. 2 : 102.63.
Support. 3 : 102.42.

DESCRIPTION:
Please, pay attention to the levels of support 3 (102.42) and resistance 3 (103.48). 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.


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