FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For January 26th/2011

TODAY TECHNICAL LEVEL :

Resistance. 3 : 82.52.
Resistance. 2 : 82.36.
Resistance. 1 : 82.20.
Support. 1 : 82.00.
Support. 2 : 81.84.
Support. 3 : 81.67.

TODAY OUTLOOK :

Today the USD/JPY has been trading between 82.00 and 82.25, please pay attention to those two levels. And also look out for the FOMC data release today, because usually before the release of the FOMC statement, market is drained of volatility. 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 RECOMMENDATION :

No trading recommended today during the FOMC Statement tonight.