FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For October 22, 2010

Resistance. 3 : 81.59.
Resistance. 2 : 81.43.
Resistance. 1 : 81.27.
Support. 1 : 81.07.
Support. 2 : 80.91.
Support. 3 : 80.75.

After the USD/JPY hit the level of 80.94 (Yesterday Support. 3), this pair is going up between 10 pips to 20 pips, as we forecasted yesterday. Today the pair may re-test 81.00 level area again; the USD/JPY actually has been in the trap between the 80.88 to 81.33 area; however if this pair is still going down and hit the support. 3 at 80.75 there is a possibility that this pair moves up between 10 pips to 20 pips. However, if after hit this level the pair still goes down to 80.31 level, this will indicate the downside movement for the USD/JPY. On the other hand, if this pair can break and close above 81.33, it will lead to the advance of the pair to 81.78; but before that, this pair will meet with the Resistance. 3 (81.59 level) which acts as a strong Resistance level for today. This level can force the pair to reverse down between 10 pips to 20 pips, but if the USD/JPY after hit this level still moves up to 82.02 level, it seems the USD/JPY will continue its uprising movement.