In Asia, Japan will release the BOJ Monthly Report. The US will release a batch of economic data such as Crude Oil Inventories, Natural Gas Storage, HPI m/m, Unemployment Claims, and Minimum Bid Rate. As for the euro area, some important events are expected in the economic calendar such as ECB Press Conference, Italian Retail Sales m/m, and Spanish Unemployment Rate. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 118.65.

Resistance. 2: 118.42.

Resistance. 1: 118.19.

Support. 1: 117.91.

Support. 2: 117.88.

Support. 3: 117.44.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.