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

TODAY TECHNICAL LEVEL :

Resistance. 3 : 82.31.
Resistance. 2 : 82.15.
Resistance. 1 : 81.99.
Support. 1 : 81.79.
Support. 2 : 81.62.
Support. 3 : 81.46.[/b]

TODAY OUTLOOK :

In the early morning, the pair traded in a ranging situation between the 81.62 (Today Support.2 level) and the 81.99 (Today Resistance. 1 level). If it breaks out and closes above the Resistance. 1 at 81.99 will lead this pair to test the next Resistance at the 82.15 (today Resistance .2), on the other hand if this pair can break out and close below the 81.62 level (Today Support. 2), this pair will test the next Support at the 81.46 (Today Support. 3) However please pay attention for this level , usually after hitting today's Support. 3, the spot rate will reverse to the upside between 10 pips to 20 pips; but conversely, if these level can be broken out the USD/JPY approximately by the 50 pips, this situation indicates that pair advanced the Bearish way.

TODAY RECOMMENDATION :

BUY; if the USD/JPY can break out and close above 82.00; set the first target at the 82.15 level and the 82.25 level as the second target.

SELL; if the USD/JPY can break out and close below 81.62, set the target at the 81.46.