In Asia, Japan will not release any economic data, and the US will release some economic data such as HPI m/m, Existing Home Sales, Richmond Manufacturing Index. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with high volatility during the US session.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.17.
Resistance. 2: 102.97.
Resistance. 1: 102.77.
Support. 1: 102.52.
Support. 2: 102.32.
Support. 3: 102.12.
DESCRIPTION:
Please, pay attention to the levels of support 3 (102.12) and resistance 3 (103.17). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it is a sign that these currencies have found trends today.
Best regards,
Official Analyst of InstaForexGroup
InstaForex Group
http://instaforex.com
For more analysis go to: blog.mt5.com/arief
Disclaimer:
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For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for April 22, 2014 . Thanks for your support on Technical analysis of USD/JPY for April 22, 2014
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