FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For September 8, 2010

Thus, here are the important intraday levels for today:

Resistance. 3 : 84.14.
Resistance. 2 : 83.98.
Resistance. 1 : 83.81.
Support. 1 : 83.68.
Support. 2 : 83.45.
Support. 3 : 83.28.


Suggestions:

Scalping from 10 pips to 20 pips near t84.47.he 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.

General Review

The yen hit the highest peak in 15 years versus the US dollar ahead of the publication of the Beige Book survey of businesses that is expected to show the deceleration of the economic rehab in the USA. This is a result of weak US economic recovery and many investors tend to find the refuge in the yen. The strengthening yen is now threatening the Japanese economy. The policymakers in many countries are really aware of the crisis, as submitted by the Parliamentary Secretary Cabinet Office, Keisuke Tsumura today. The yen continues to show advantage versus other major currencies, the statement from the Japanese Central bank Governor Masaaki Shirakawa shows the BOJ being not ready to intervene in response to the market speculators who are buying yen to penetrate the highest level, though under the circumstances when there is a lack of clarity about the intervention, the yen continues to uprise. But the attitude of cautiousness should be maintained if the BOJ Governor acts on the contrary to previous statements, so it does not cover this possibility precisely to test the limit to which the buyers will be pushing the yen and at that point that BOJ will be likely to act.