USD/JPY Daily Forecast For May 4th / 2011

DAILY FORECAST :

It seems that today the USD/JPY will test the 3 days low level at 80.72, if this level can be broken down, it will make this pair go down to the 80.11 level and will hold it at the Fibonacci Support 61.8% at the 79.94 level. On the other hand, if the pair can break 81.43 level, it will lead the USD/JPY to going up to the 3 days high level at the 81.71 level, and this upside movement will be held at Fibonacci Resistance 38.2% at the 82.07 level.