FX.co ★ USD/JPY Technical analysis, Support and Resistance Levels for December 14, 2010

Today Technical Level:

Resistance. 3 : 83.89.
Resistance. 2 : 83.72.
Resistance. 1 : 83.56.
Support. 1 : 83.35.
Support. 2 : 83.19.
Support. 3 : 83.02.

Today Outlook:

Today at 02:15 PM the FOMC will announce its interest rate decision, so the USD/JPY will, probably, move within a narrow range. As of now, the USD/JPY is in the area between 83.31 and 83.55 levels. If the pair breaks down and closes below the 83.55 level, then further the pair will move down to 83.25 as a first target and to 83.00 as a second target. In the other hand, in case the USD/JPY breaks through and strengthens above 83.55, this will indicate that the pair moves upside up to 83.75 as a first target and to 84.00 as a second target. However, if the pair reaches one of these levels and still goes more than 50 pips in the chosen direction, then this will denote that the USD/JPY has found its tendency for today.