FX.co ★ USD/JPY Technical Analysis. Support And Resistance Line For June; 23rd/2010.

In the early morning after Tokyo Market Open; We saw USD/JPY move in a tight range (many candles have a long tail/shadow). Maybe, the market is waiting for the FOMC statement, so please be careful with trading today because before FOMC News coming, there is another News Announcement: US New Home Sales report. As We know this report can give a sign of recovery or the crash of US Market (One of the Leading Indicators of US Economy among another leading Economic Indicators like Baltic Dry Index Data). Here are intraday important levels for USD/JPY for this day:

Resistance. 3 : 90.96.

Resistance. 2 : 90.78.

Resistance. 1 : 90.61.

Support. 1 : 90.39.

Support. 2 : 90.21.

Support. 3 : 90.03.

Please pay attention to Resistance. 3 (90.62) level because if this level is hit by this pair, usually it is a tendency of reversing downwards for this pair again to the level of 90.87 to 90.77(maximal); but if this pair after the Break of Resistance. 3 still moves to 91.45, it seems this pair will continue an upward movement. On the other hand, if Support. 3 (90.03) will be hit, please pay careful attention to a reversal to upward movement again to 90.12 to 90.22 (maximal) level, if this pair after the break of Support. 3 still moves to 89.55 it seems this pair will continue the downward movement.