In Asia, Japan will release its preliminary Industrial Production m/m, and Housing Starts y/y. Meanwhile, the US will release some economic data such as Chicago PMI, Pending Home Sales m/m, etc. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.
Todays technical levels:
Resistance. 3: 101.83.
Resistance. 2: 101.63.
Resistance. 1: 101.43
Support. 1: 101.18.
Support. 2: 100.98.
Support. 3: 100.78.
Description: Please, pay attention to the levels of support 3 (100.78) and resistance 3 (101.83). Normally, when a level is touched, USD/JPY is likely to 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/47456/
In Asia, Japan will release its preliminary Industrial Production m/m, and Housing Starts y/y. Meanwhile, the US will release some economic data such as Chicago PMI, Pending Home Sales m/m, etc. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.
Todays technical levels:
Resistance. 3: 101.83.
Resistance. 2: 101.63.
Resistance. 1: 101.43
Support. 1: 101.18.
Support. 2: 100.98.
Support. 3: 100.78.
Description: Please, pay attention to the levels of support 3 (100.78) and resistance 3 (101.83). Normally, when a level is touched, USD/JPY is likely to 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/47456/
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