FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For November 09, 2010

Resistance. 3 : 81.32.
Resistance. 2 : 81.16.
Resistance. 1 : 81.00.
Support. 1 : 80.80.
Support. 2 : 80.64.
Support. 3 : 80.48.

The USD/JPY now has been trapped in a triangle formation; it means the market participants are confused about the movement of this pair. Now the USD/JPY has been oscillated between the 81.25 to 80.75 level areas. However, today this pair has a strong support and resistance levels at 80.48 (Support. 3) and 81.32 (Resistance. 3). If this pair can reach this area, there is a possibility for this currency to reverse between 10 pips to 20 pips, but if this pair after reach these levels still moves by more than 50 pips this will indicate that the USD/JPY will continue its movement.