In Asia, Japan will not release any economic data because of Bank Holiday, and the US will release some economic data such as Final Services PMI, ISM Non-Manufacturing PMI. So there is a big probability the USD/JPY will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.51.
Resistance. 2: 102.31.
Resistance. 1: 102.11.
Support. 1: 101.87.
Support. 2: 101.67.
Support. 3: 101.46.
DESCRIPTION:
Please, pay attention to the levels of support 3 (101.46) and resistance 3 (102.51). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
Official Analyst of InstaForex Group InstaForex Group http://instaforex.com For more analysis go to: blog.mt5.com/arief My Profile: http://www.mt5.com/forex_analysis_award/profile/index/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 May 5, 2014 . Thanks for your support on Technical analysis of USD/JPY for May 5, 2014
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