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FX.co ★ Technical analysis of USD/JPY for April 23, 2014

Technical analysis of USD/JPY for April 23, 2014

Technical analysis of USD/JPY for April 23, 2014

In Asia, Japan will not release any economic data, and the US will release some economic data such as Flash Manufacturing PMI, New Home Sales, Crude Oil Inventories. 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: 103.16.

Resistance. 2: 102.96.

Resistance. 1: 102.76.

Support. 1: 102.50.

Support. 2: 102.30.

Support. 3: 102.10.

DESCRIPTION:

Please, pay attention to the levels of support 3 (102.10) 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.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

https://instaforex.com

For more analysis go to: blog.mt5.com/arief

Disclaimer:

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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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