USD/JPY hit 119.19 during European early afternoon trade, the pair’s lowest since December 19; the pair subsequently consolidated at 119.51, retreating 0.94%.The dollar remained broadly supported after final data last week showed that U.S. gross domestic product rose 5.0% in the third quarter, exceeding expectations for a growth rate of 4.3% and up from 3.9% in the three months to June.The strong data fuelled further optimism over the strength of the U.S. economic recovery and added to expectations for the Federal Reserve to raise interest rates next year.Separately, markets were jittery after Greek Prime Minister Antonis Samaras said on Monday that he will recommend parliamentary elections are held on January 25, almost 18 months before his coalition’s term was due to end.
INTRADAY OUTLOOK
Support: 119.63
Resistance: 120.21
RECOMMENDATION:
1. Buy USD/JPY Above 120.21-TG:120.41/120.71 SL 119.91
2. Sell USD/JPY Below 119.60-TG:119.40/119.10 SL 119.90
INTRADAY OUTLOOK
Immediate Support: 1.2083
Immediate Resistance: 1.2161
RECOMMENDATION:
1. Buy EUR/USD Above 1.2165-TG:1.2185/1.2215 SL 1.2135
2. Sell EUR/USD Below 1.2080-TG:1.2060/1.2030 SL 1.2110
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
No comments:
Post a Comment