Forex & Commodities Trading Levels to Watch on Friday

Support Resistance

1.1045 1.1309

1.0918 1.1447

1.0654 1.1711

Key Trading Level: 1.1182

USD/JPY – Technical Levels

Support Resistance

103.37 106.11

102 107.47

99.26 110.21

Key Trading Level: 104.74

GBP/USD – Technical Levels

Support Resistance

1.2436 1.2774

1.2295 1.297

1.1957 1.3308

Key Trading Level: 1.2633

Support and Resistance Trading: The Basics

GOLD – Technical Levels

Support Resistance

1542.86 1627.71

1509.41 1679.12

1424.55 1763.97

Key Trading Level: 1594.26

WTI CRUDE OIL – Technical Levels

Support Resistance

30.25 32.57

29.16 33.81

26.84 36.13

Key Trading Level: 31.49

Lead Commodities and Indices Analysts by our sources are professional market analysts and day traders. Holding an MBA in Behavioral Finance and are working towards Ph.D. 

The index is expected to improve in the next quarter to -5.5 but could remain in the negative territory, indicating contraction. Reduced exports to China and a drop in tourism are expected to keep the business sentiment under pressure in the near future.

This is likely to increase the chances of a recession in the Japanese economy, which has remained under stress for quite some time owing to the US-China trade tensions and now the coronavirus outbreak. Markets are eagerly awaiting response from the BOJ at its upcoming monetary policy meeting next week to offset some possible economic impact of the outbreak.

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