FX.co ★ USD/JPY Technical Analysis. Support And Resistance Line For August; 18th/2010

Preview:

Yen has strengthened amid speculation that Japanese exporters will take advantage of weakened 0.7 percent yesterday to buy the euro.Yen also strengthened against most other major currencies because Japanese stocks offset gains, reducing the demand for assets yielding a high return. Dollar ending two days at its lowest level against the euro ahead of U.S. release of the report tomorrow is expected to show stronger manufacturing in Philadelphia, U.S. and declining unemployment.

Technical Level:

Resistance. 3 : 85.83.

Resistance. 2 : 85.66.

Resistance. 1 : 85.49.

Support. 1 : 85.28.

Support. 2 : 85.11.

Support. 3 : 84.94.

Suggestion:

Taking Scalp for 10 pips to 20 Pips nearly Support. 3 for BUY and Resistance. 3 for SELL; but please consider if this pair after the break of Support. 3 or Resistance. 3 still goes to 47 pips - 50 pips it seems this pair will continue that movement, so please change the position before.

Fundamental News:

Today there is only one kind of data, which will be issued by the United States, it is Crude Oil Inventories at 21:30 WIB.