Technical analysis of USD/JPY for April 21, 2014



In Asia, Japan will release the Trade Balance and the US will release some economic data such as CB Leading Index m/m. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.16.
Resistance. 2: 102.96.
Resistance. 1: 102.76.
Support. 1: 102.51.
Support. 2: 102.31.
Support. 3: 102.11.

DESCRIPTION:
Please, pay attention to the levels of support 3 (102.11) and resistance 3 (103.16). 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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