In Asia, Japan will release the Tankan Manufacturing Index, Tankan Non-Manufacturing Index, Average Cash Earnings y/y, Final Manufacturing PMI and the US will release some economic data such as Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, ISM Manufacturing Prices, Total Vehicle Sales. So there is a big probability the USD/JPY will move with low to medium volatility during the day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 101.96.
Resistance. 2: 101.76.
Resistance. 1: 101.56
Support. 1: 101.32.
Support. 2: 101.12.
Support. 3: 100.92.
DESCRIPTION:
Please, pay attention to the levels of support 3 (100.92) and resistance 3 (101.96). 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.
Disclaimer:
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For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/JPY for July 01, 2014 . Thanks for your support on Technical analysis of USD/JPY for July 01, 2014
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