FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For January 05th/2011

TODAY TECHNICAL LEVEL :

Resistance. 3 : 82.53.
Resistance. 2 : 82.37.
Resistance. 1 : 82.21.
Support. 1 : 82.01.
Support. 2 : 81.84.
Support. 3 : 81.68.

TODAY OUTLOOK :

Today the USD/JPY has been trading in a ranging situation between 82.00 and 82.25; breakout of those 2 levels will lead this pair into the next level. However, please pay attention to today’s Resistance. 3 and today’s Support. 3, usually after reaching one of these levels the USD/JPY reverses between 10 pips to 20 pips. If the pair reaches one of these levels and still goes more than 50 pips in the chosen direction, this will denote that the USD/JPY has found its tendency for today.

TODAY RECOMENDATION :

BUY if this pair can breakout and close above 82.25; set TakeProfit.1 at 82.50 and Takeprofit. 2 at 82.75.

SELL if this pair can breakout and close bellow 82.00; set TakeProfit at 81.75 and Takeprofit. 2 at 82.50.