Technical analysis of USD/JPY for April 11, 2014




In Asia, Japan will release the Monetary Policy Meeting Minutes, CGPI y/y, M2 Money Stock y/y, 30-y Bond Auction; the US will release some economic data such as PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low volatility during the Asian and US sessions.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.10.
Resistance. 2: 101.90.
Resistance. 1: 101.70.
Support. 1: 101.45.
Support. 2: 101.25.
Support. 3: 101.05.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.05) and resistance 3 (102.10). 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.


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