FX.co ★ USD/JPY Technical analysis, Support and Resistance Levels for December 10, 2010

Today Technical Levels :
Resistance. 3 : 84.14.
Resistance. 2 : 83.97.
Resistance. 1 : 83.81.
Support. 1 : 83.60.
Support. 2 : 83.44.
Support. 3 : 83.27.

Today Outlook :

Today, the USD/JPY will probably reach the Fibonacci Support 38.2% at 83.55. A breakout and closing below the 83.50 level will allow the pair to move to the next Fibonacci Support 50% at 83.31. In the other hand if the USD/JPY breaks out and closes above the Fibonacci Resistance 23.6% at 83.84, then the USD/JPY will rise to the level of 84.00. Nonetheless, please pay attention to today’s Resistance. 3 and Support. 3 levels; usually after hit one of these levels the USD/JPY reverses by 10 pips to 20 pips. If the pair reaches one of these levels and still goes in the chosen direction, then this will denote that the USD/JPY has found its tendency for today.