FX.co ★ Technical analysis of USD/JPY for April 28, 2014

In Asia, Japan will release the Retail Sales y/y, and the US will release some economic data such as Pending Home Sales m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low volatility during the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.97.

Resistance. 2: 102.77.

Resistance. 1: 102.57.

Support. 1: 102.32.

Support. 2: 102.11.

Support. 3: 101.91.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.91) and resistance 3 (102.97). 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,

Official Analyst of InstaForex Group

InstaForex Group

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