Date: 12th October, 2015
Currency Pair: USDJPY
USDJPY is flat and hovering around daily pivot level i.e. 120.14. The pair has been moving in a narrow range for last couple of days. Last week we’ve seen that the pair had not able to show any significant movement. Today’s resistance levels are at 120.46, 120.65 and 120.97.
On flip side 119.95 is offering the immediate support for today. Below this level 119.63 and 119.44 are subsequent support levels.
USDJPY is stuck in a limited range. On technical perspective the pair has already lost its direction. In other words we can’t see any clear trend on this pair at current levels. From fundamental side there is no important news for today which may drive the pair towards a single direction. Most probably today the pair would go into a consolidative mode.
Economic News Events For Today
|USD||FOMC Member Lockhart Speaks||Medium|
|USD||FOMC Member Evans Speaks||Medium|
4 Hours Chart