USD/JPY Intraday Technical Levels for July 16, 2012

TODAY's TECHNICAL LEVELS:

Resistance. 3: 79.53.

Resistance. 2: 79.38.

Resistance. 1: 79.22.

Support. 1: 79.03.

Support. 2: 78.87.

Support. 3: 78.71.

DESCRIPTION:

Note the levels of support. 3 (78.71) and resistance. 3 (79.53), in general, when a level is touched, USD/JPY will rebound from the previous minimum by10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign of that these currencies have found trends today.

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