USD/JPY slipped 0.16% to 101.52, off Wednesday’s one week highs of 101.78. The Federal Reserve Bank of Philadelphia said that its manufacturing index improved to a more than three-year hig of 23.9 this month from June’s reading of 17.8. Analysts had expected the index to dip to 16.0 in July. The data came after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending July 12 declined by 3,000 to 302,000 from the previous week’s total of 305,000.
INTRADAY OUTLOOK
Support: 1.7090
Resistance: 1.7110
RECOMMENDATION:
1. Buy GBP/USD Above 1.7110- TG: 1.7130/ 1.7160 SL 1.7080
2. Sell GBP/USD Below 1.7090- TG: 1.7070/ 1.7040 SL 1.7120
INTRADAY OUTLOOK
Immediate Support: 1.3515
Immediate Resistance: 1.3530
RECOMMENDATION:
1. Buy EUR/USD Above 1.3530- TG: 1.3550/1.3580 SL 1.3500
2. Sell EUR/USD Below 1.3515- TG: 1.3495/1.3465 SL 1.3545
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