USD/JPY Technical Analysis. Support And Resistance Levels For November 19, 2010

Today Technical Level :

Resistance. 3 : 83.93.
Resistance. 2 : 83.77.
Resistance. 1 : 83.60.
Support. 1 : 83.39.
Support. 2 : 83.23.
Support. 3 : 83.06.

Today Outlook :

If today the USD/JPY can reach the level of 83.75 and break out it, there will be a possibility that the USD will strengthen and have a chance to reach the mark of 84.00. But before this pair goes to these levels it must face with today Resistance. 3 at 83.93. Usually after hit this level, this pair will reverse to downsides between 10 pips to 20 pips. In case the USD/JPY reaches the Resistance. 3 level and still goes up to the mark of 84.38, this will indicate the strong Bullish Momentum. On the other hand, if today this pair moves below the level of 83.25, then it can reach the level of 83.00 again. In case the downside tendency is strong enough, the mark of 82.75 will be probably reached by this currency pair today; but before this situation happen, this pair will be facing with today Support. 3 at 83.06. Usually after hit this level the USD/JPY will reverse upwards between 10 pips to 20 pips. If after hit the Support. 3 this pair is still going down to the level of 82.62, this will indicate the Bearish momentum is strong today.