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30.05.201405:55 Forex Analysis & Reviews: Technical analysis of USD/JPY for May 30, 2014

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In Asia, Japan will release the Household Spending y/y, National Core CPI y/y, Tokyo Core CPI y/y, Unemployment Rate, Prelim Industrial Production m/m, Housing Starts y/y, and the US will release some economic data such as Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Chicago PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations. So there is a big probability the USD/JPY will move with low to medium volatility during the day.

TODAY's TECHNICAL LEVELS:
Resistance. 3: 102.14.
Resistance. 2: 101.94.
Resistance. 1: 101.74.
Support. 1: 101.50.
Support. 2: 101.30.
Support. 3: 101.10.

DESCRIPTION:
Please, pay attention to the levels of support 3 (101.10) and resistance 3 (102.14). 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.
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