First, we look into the previous day trade and what happened on August 14, 2018, and the USD/JPY pair opened at 110.629 and went high at 111.307 and gone low 110.580 and finally closed at 111.140. The calculated pivot point for the day is 110.009.
The difference between high and low was nearly 0.727 points and there was a very good chance for traders to take the opportunity between low to high levels and finally benefit.
The pair is going to low levels from resistant levels and traders should be cautious since it reached the overbought region and they should buy at the support levels for more profits. Four-hour chart followers may consider buy at 110.185, 111.481 and sell at 110.032, 110.483 levels.
LEVELS TO BE WATCHED FOR TRADERS FOR THEIR TRADING
Level
First Level
Second Level
Third Level
Selling Level
110.50
110.10
109.85
Buying Level
111.50
111.85
112.15
EVENTS TO BE OBSERVED AT THESE TIMES TO TAKE MORE ADVANTAGE
USDJPY FUNDAMENTALS TODAY
GMT
Event
Actual
Previous
12:30
USD Retail Sales (MoM)
0.5%
0.2%
12:30
USD Retail Sales control group
0.5%
-0.1%
12:30
USD Retail Sales ex Autos (MoM)
0.6%
0.2%
12:30
USD NY Empire State Manufacturing Index
25.6
22.6
13:15
USD Capacity Utilization
78.1%
78.1%
13:15
USD Industrial Production (MoM)
0.1%
1.0%
14:00
USD Business Inventories
0.4%
14:00
USD NAHB Housing Market Index
68
14:30
USD EIA Crude Oil Stocks change
-1.351M
20:00
USD Total Net TIC Flows
$69.9B
20:00
USD Net Long-Term TIC Flows
$45.6B
23:50
JPY Exports (YoY)
6.7%
