FX.co ★ Technical analysis of USD/JPY for May 12, 2014

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In Asia, Japan will release the current account data, Bank lending y/y, economy watchers sentiment and the US will release some economic data such as US-Federal Budget Balance. So there is a big probability USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.50.
Resistance. 2: 102.30.
Resistance. 1: 102.10.
Support. 1: 101.85.
Support. 2: 101.65.
Support. 3: 101.45.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.45) and resistance 3 (102.50). 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 InstaForexGroup InstaForex Group https://instaforex.com email: Arief.jakarta@indo.instaforex.com

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

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