FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For October 18, 2010

Resistance. 3 : 81.70.

Resistance. 2 : 81.54.

Resistance. 1 : 81.38.

Support. 1 : 81.18.

Support. 2 : 81.02.

Support. 3 : 80.86.

After the USD/JPY broke through and closed below 82.25 level it seems the strengthening of the Yen would continue; in the theory if the Hesitation Level (now at 81.75) is breached in 3 days it must go down to the Large Quarter Point at 80.00. Nevertheless, now this pair is facing the whole number/round number at 81.00. There is a possibility the USD/JPY will reach 81.00 level as a strong support for this day. If this level is breached by the pair; the USD/JPY will move to 80.25 level; this pair will find a strong barrier at 80.86 (Support.3). If this level is reached, there is a possibility this pair reverses up at least between 10 Pips to 20 Pips. However, if after hit those level (80.86) the pair is still going down until 80.42 level, it seems this pair with no doubt will move easily to 80.25 and 80.00 level areas too. However, if today the USD/JPY cannot break 81.00 level it will indicate the strengthening of the YEN will gradually decrease.