FX.co ★ Technical analysis of USD/JPY for February 24, 2014

In Asia, Japan will not release any economic data's for today and the US will release the US-Flash Services PMI. So there is a big probability the USD/JPY will move with low volatility during this day.

TODAY's TECHNICAL LEVELS: 

Resistance. 3: 102.98.

Resistance. 2: 102.78.

Resistance. 1: 102.58.

Support. 1: 102.33.

Support. 2: 102.13.

Support. 3: 101.93.

DESCRIPTION:

Please, pay attention to the levels of support 3 (101.93) and resistance 3 (102.98). 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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