TRADING TIPS :
EUR/USD was down 0.23% at 1.2525, up from a session low of 1.2504 and off a high of 1.2575.The pair was likely to find support at 1.2441, Tuesday’s low, and resistance at 1.2600, Wednesday’s high.Manufacturing activity in the Philadelphia-region expanded at its fastest rate since December 1993 in November, fueling optimism over the U.S. economic outlook, official data showed on Thursday.The Federal Reserve Bank of Philadelphia reported earlier that its manufacturing index improved to 40.8 this month from 20.7 in October.A soaring Philadelphia-area factory gauge sparked demand for the greenback over the euro on Thursday by stoking expectations for the U.S. economy to grow at a faster clip.
INTRADAY OUTLOOK
Immediate Support: 117.29
Immediate Resistance: 117.89
RECOMMENDATION:
1. Buy USD/JPY Above 117.91-TG:118.11/118.41 SL 117.61
2. Sell USD/JPY Below 117.27-TG:117.07/116.77 SL 117.57
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