TRADING TIPS :
USD/JPY hit 120.58 during European
afternoon trade, the pair’s highest since December 30; the pair
subsequently consolidated at 120.55, gaining 0.66%.The pair was
likely to find support at 119.22, the low of December 31 and
resistance at 121.86, the high of December 8 and a seven-year
high.The U.S. dollar was higher against the yen on Friday, as
expectations for a U.S. rate hike this year continued to support the
greenback and investors eyed the release of U.S. manufacturing
activity data later in the day.The dollar remained broadly supported
as a recent string of upbeat U.S. data sparked optimism over the
strength of the country’s economic recovery and added to
expectations for the Federal Reserve to soon raise interest rates.
INTRADAY
OUTLOOK
Support:
120.09
Resistance:
120.83
RECOMMENDATION:
1.
Buy USD/JPY Above 120.85-TG: 121.25/120.75 SL 120.35
2.
Sell USD/JPY Below 120.05-TG: 119.65/119.15 SL 120.55
INTRADAY
OUTLOOK
Immediate
Support: 1.9983
Immediate
Resistance: 1.2033
RECOMMENDATION:
1.
Buy EUR/USD Above -1.2035 TG: 1.2075/1.2125 SL 1.9985
2.
Sell EUR/USD Below -1.9980 TG:1.9940/1.9890 SL 1.2030
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