FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For August 30, 2010

The yen force is gradually weakening against all major currencies. The anticipations that the Bank of Japan will issue a stimulus to restrain the rate of the yen is the main question now. Today, the yen has already weakened to the lows of the last week against the US dollar and the euro. Besides, the BoJ should allow credit loosening and clarify its actions to fight the inflation and a strengthening Japanese currency. The BoJ can also make some surprises, such as increased purchases of government debt, so that it can restrain the rate of the yen.
The important intraday trading levels for today are:

Resistance. 3 : 86.23.

Resistance. 2 : 86.06.

Resistance. 1 : 85.89.

Support. 1 : 85.68.

Support. 2 : 85.51.

Support. 3: 85.34.

Suggestions:

Scalping from 10 pips to 20 pips near the Support. 3 for BUY and the Resistance. 3 for SELL; but please, pay attention, that if this pair is still moving for 47– 50 pips after breaking through the Support. 3 or the Resistance. 3, then it is likely to continue the advance, so please, change the position beforehand.