FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For September 3, 2010

On Thursday, the US dollar declined versus other major counterparts amid the release of the US economic data which urged the investors to buy risking. However, some other investors are still concerned about the situation on the labor market, where the payroll data is due today. Thus, the trading on rising and declining become attractive. The expectations of the important data from the US Non Farm Payrolls today are a major factor of the trades’ volume decrease. However, taking into account the movements on Asian and European markets the US dollar is still projected to move towards in major consolidation of the other currency in a ranging situation.
The important intraday levels for today are:

Resistance. 3 : 84.79.

Resistance. 2 : 84.63.

Resistance. 1 : 84.46.

Support. 1 : 84.25.

Support .2 : 84.09.

Support .3 : 83.92.

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.