In Asia, Japan will release the Manufacturing PMI, Prelim Industrial Production m/m, Average Cash Earnings y/y, Monetary Policy Statement, Housing Starts y/y, the BOJ Outlook Report, and the BOJ Press Conference is due. Meanwhile, the US will unveil its ADP Non-Farm Employment Change, Advance GDP q/q, Advance GDP Price Index q/q, Employment Cost Index q/q, Chicago PMI, Crude Oil Inventories, FOMC Statement, and Federal Funds Rate. So there is a big probability the USD/JPY will move with low to medium volatility today.
Today's technical levels:
Resistance. 3: 103.04.
Resistance. 2: 102.85.
Resistance. 1: 102.63.
Support. 1: 102.40.
Support. 2: 102.19.
Support. 3: 101.99.
Description:
Please, pay attention to the levels of support 3 (101.99) and resistance 3 (103.04). Normally, when a level is touched, USD/JPY is likely to rebound from the previous low by 10 to 20 pips. However, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
Please, pay attention to the levels of support 3 (101.99) and resistance 3 (103.04). Normally, when a level is touched, USD/JPY is likely to rebound from the previous low by 10 to 20 pips. However, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
Best regards,
Arief Makmur
Official Analyst of InstaForexGroup InstaForex Group http://instaforex.com
For more analysis go to: blog.mt5.com/arief
Arief Makmur
Official Analyst of InstaForexGroup InstaForex Group http://instaforex.com
For more analysis go to: blog.mt5.com/arief
Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for April 30, 2014 . Thanks for your support on Technical analysis of USD/JPY for April 30, 2014
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