USD/JPY is trading below a strong resistance level of 105.338, and here the breakage over this level will determine the additional trend in the market. Investors are waiting for the USD GDP numbers to be released today. The support is found at 104.56, at 104.31 and nearby 103.90. Furthermore, the pair is expected to find resistance around 105.38, and above that at 105.65 and 106.01.
Fundamentals:
USD:
Advance GDP q/q
Advance GDP Price
Index q/q
Technical Levels:
R3: 106.03
R2: 105.62
R1: 105.37
Pivot Point: 104.95
S1: 104.55
S2: 104.30
S3: 103.90

Recommendation:
1- (GDP less than expected)
Good to Sell Below 105.350
SL: 105.550
TP: 104.950

2- (GDP Better than expected)

Good to buy above 105.40
SL: 105.25
TP: 105.950

Scalp USDJPY

One thought on “Scalp Alert – USDJPY Trade US Advance GDP q/q”

  1. Maryna says:

    Hi Arslan, thanks for all your set-ups. I waited for the H1 to hit resistance at 105.50 and sold it for 100 pips. Took the market time to digest the news.

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