FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For September 29, 2010

Here is an intraday important trading level for this pair today :

Resistance. 3 : 84.32.

Resistance. 2 : 84.15.

Resistance. 1 : 83.99.

Support. 1 : 83.78.

Support. 2 : 83.62.

Support. 3 : 83.45.

Suggestions:

Scalping from 10 pips to 20 pips near 184.47 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 positions beforehand.

Market Outlook :

It is expected that the dollar will weaken against 16 other currencies as the release of the business activity report in the USA showed weakening. The yen is near its strongest level against the dollar, the BoJ Tankan survey is expected to show the weakening of business confidence in the recovery phase, thus encourage the demand for the yen. The FED will increase the relief policies to stimulate the U.S. economy. But the market seemed to ignore the threat of BOJ to continue to buy back yen. The author himself predicts BOJ will act again if the yen approaches its strongest level in the history.