FX.co ★ USD/JPY Technical Analysis. Support And Resistance Levels For March 04 /2011

TODAY TECHNICAL LEVEL :

Resistance. 3 : 82.81.
Resistance. 2 : 82.65.
Resistance. 1 : 82.48.
Support. 1 : 82.28.
Support. 2 : 82.11.
Support. 3 : 81.95.

TODAY OUTLOOK :

After the USD/JPY broke out above the 82.25 level yesterday it hit the target at 82.50. Now the pair is trapped between 82.25 and 82.50. No significant movement is expected today until the Non Farm Payroll data release. However, please pay attention for 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 :

NO TRADE recommended for today during the Non Farm Payroll Data release.