In Asia, Japan will release the Tankan Manufacturing Index, Tankan Non-Manufacturing Index, Average Cash Earnings y/y, 10-y Bond Auction 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 this day.
TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.79.
Resistance. 2: 103.58.
Resistance. 1: 103.38.
Support. 1: 103.13.
Support. 2: 102.93.
Support. 3: 102.72.
DESCRIPTION:
Please, pay attention to the levels of support 3 (102.72) and resistance 3 (103.79). 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.
Read more: https://www.instaforex.com/forex_analysis/43500/