Source: PaxForex Premium Analytics Portal, Technical Insight
White House adviser Kevin Hassett said today that he expects employment growth of 3.5-4 million in June, but added that stimulation will be necessary even if the data exceed forecasts. He also noted that another incentive program will be adopted in August.
USD/JPY, 30 min
Pivot: 107.55
Analysis:
Provided that the currency pair is traded below 108.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 107.55
- Take Profit 1: 107.40
- Take Profit 2: 107.05
Alternative scenario:
In case of breakout of the level 108.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 108.00
- Take Profit 1: 108.25
- Take Profit 2: 108.55
Comment:
As long as the resistance of 108.00 is not broken-out, the risk of breakdown below 107.40 remains high.
Key levels:
Resistance | Support |
108.55 | 107.40 |
108.25 | 107.05 |
108.00 | 106.85 |
USD/JPY, D1
Pivot: 108.10
Analysis:
While the price is above 107.45, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 108.10
- Take Profit 1: 111.20
- Take Profit 2: 112.20
Alternative scenario:
If the level 107.45 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 107.45
- Take Profit 1: 106.00
- Take Profit 2: 105.15
Comment:
RSI shows a medium-term uptrend.
Key levels:
Resistance | Support |
113.10 | 107.45 |
112.20 | 106.00 |
111.20 | 105.15 |
We also advise you to pay attention to the following currency pairs for intra-day trading:
EUR/USD – buy above 1.1315 with 1.1385 and 1.1400 as Take Profit targets. Alternative scenario - if the level of 1.1315 is broken-down, you should consider selling with the targets 1.1280 and 1.1260 as Take Profit.
GBP/USD - long positions above 1.2700 with 1.2770 and 1.2800 targets as Take Profit. Alternative scenario - if the level of 1.2700 is broken-down, sell with the targets 1.2660 and 1.2630 as Take Profit.
USD/CAD - sell below 1.3425 with 1.3365 and 1.3350 targets as Take Profit. Alternative scenario - if the level 1.3425 is broken-out, buy with the TP 1.3455 and 1.3485.