USDJPY – Weekly Forecast 23-27 Dec 2013

Recommendations: LONG positions above 102.85 with 104.00 & 105.25  as next targets.
Alternative scenario:The downside breakout of 102.85 will call for a slide to 101.70/100.50.
Description: With the key support 102.85 intact, further rise towards 105.25 is suggested , break of 105.25 will aim  106.45 levels. On the downside , losing the key support 102.85 would weaken the current bullish run for retesting  101.70 levels ahead of  100.50 levels before the next possible rise .

Support and resistance  : 99.35, 100.50 , 101.70 , 102.85 (Pivot) , 104.25, 105.25 ,106.45.

Key data/events which may influence USDJPY this week:

  •  USD – Core Durable Goods Orders (MoM) – Tuesday at 13:30 – Core Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items, a higher reading indicates increased manufacturing activity.Forecast is  0.7%  – A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
  •  USD – New Home Sales – Tuesday at 15:00 –  New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. Forecast is 448 K.A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
  • USD – Initial Jobless Claims – Thursday  at 13:30 ; Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week,forecast is 380 K. A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

All times are GMT

 

USDJPY Daily Chart

Live Chart Of USDJPY



MARKET DATA

UPCOMING ECONOMIC EVENTS

1 COMMENT

  1. In my home when I get bored, afterward I just ON my laptop and open YouTube web site USDJPY – Weekly Forecast 23-27 Dec 2013 – ASKHAITHAM653.COM to watch the YouTube video lessons.

Comments are closed.