FX.co ★ USD/JPY Technical analysis, Support and Resistance Levels for December 08, 2010

Today Technical Level:

Resistance. 3 : 84.13.
Resistance. 2 : 83.96.
Resistance. 1 : 83.80.
Support. 1 : 83.59.
Support. 2 : 83.43.
Support. 3 : 83.26.

Today Outlook:

The USD/JPY is now traded between 84.00 and 83.75 levels. If this pair can break out the level of 84.00, then the USD/JPY will move to the level of 84.25 as a first target and to the level of 84.50 as a second target. On the other hand, in case the USD/JPY breaks down and closes below 83.75, then the pair will reach the mark of 83.50 as a first target and the mark of 83.25 as a second target today. However please pay attention to today’s Resistance. 3 (84.13) and Support. 3 (83.26). Usually the USD/JPY reverses between 10 pips to 20 pips, if the pair hits these two levels. But in case the pair still moves in a certain direction having hit one of these levels, then this will indicate the USD/JPY has already found its way today.