FX.co ★ USD/JPY Technical analysis, Support and Resistance Levels for November 12, 2010

Today Technical level :

Resistance. 3 : 82.81.
Resistance. 2 : 82.64.
Resistance. 1 : 82.48.
Support. 1 : 82.28.
Support. 2 : 82.12.
Support. 3 : 81.95.

Today's Outlook :

The USD/JPY is now trapped between 82.75 - 82.25 levels again. If this pair can break through and close below the level of 82.25, then the pair will move to 81.75. However, before the USD/JPY reaches that target, the pair will meet with today Support. 3 (81.95). Usually the pair rebounds to the upside between 10pips – 20 pips after hit this level. Nevertheless, in case this pair still goes downwards to 81.51, this will denote the strong downtrend on the USD/JPY and the USD/JPY will have an opportunity to reach the level of 81.25 before it hits the mark of 81.00. On the other hand, if the USD/JPY can break out and close above 82.75 level, this situation will cause the USD/JPY goes up to 83.25 level area. But at first the pair must face with today Resistance. 3 (82.81). Usually after hit this level the USD/JPY rebounds to downside between 10 pips - 20 pips. But if this pair still moves upwards to the level of 83.25 this will denote that the uprising movement for this pair today is strong enough and can bring this pair to the 83.50 level.