FX.co ★ USD/JPY Technical Analysis. Support and Resistance Levels for October 14, 2010

Resistance. 3 : 81.64.
Resistance. 2 : 81.68.
Resistance. 1 : 81.52.
Support. 1 : 81.32.
Support. 2 : 81.16.
Support. 3 : 80.99

The bias of the USD/JPY is still a downtrend, if this pair can break through and close below 81.29 level area (Fibonacci Support 38.2%), then it seems it will move to the next Fibonacci Support 23.6% at 81.13. If the downside movement will lead to Support. 3 level 80.99, then there is a possibility for this pair to reverse up between 10 pips to 20 pips; but if the USD/JPY goes down and closes below 80.56 level area this indicates the downside movement for this pair still intact. On the other hand, if the USD/JPY closes above 81.45 level area, then it seems it will reach the Fibonacci Resistance 61.8% at 81.54 and in case the movement is strong the pair can reach the Fibonacci Resistance 78.6% at 81.72. Nevertheless, please pay attention to Resistance. 3 at 81.64 because this pair might slightly reverse to the downside between 10 pips to 20 pips.