Technical analysis of USD/JPY for April 10, 2014




In Asia, Japan will release the Core Machinery Orders m/m, Bank Lending y/y, Prelim Machine Tool Orders y/y and the US will release some economic data such as Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction, Federal Budget Balance. So there is a big probability the USD/JPY will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.46.
Resistance. 2: 102.26.
Resistance. 1: 102.06.
Support. 1: 101.81.
Support. 2: 101.61.
Support. 3: 101.41.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.41) and resistance 3 (102.46). 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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