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FX.co ★ USD/JPY Technical Analysis. Support and Resistance line for June 7

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Forex Analysis:::2010-06-07T12:00:00

USD/JPY Technical Analysis. Support and Resistance line for June 7

As we saw in a charts USD/JPY tend to Ranging rather then Trending so in Our view for this day event this pair in ranging situation at 92.77 to 88.85. But the significant Support & Resistance for this day for USD/JPY at 90.70, at 91.65. Usually after this pair hits this significant Support & Resistance, makes a so called "U" turn. So a Trader can make some benefits by taking from 10 Pips to 20 Pips from this moment, but if Those strong support & Resistance cannot handle the breakout until more then 40 to 50 Pip, this indicates this pairs have a strong trend for a moment before they start ranging again.

Before this pairs goes to those Strong Support(Support. 3) & Resistance(Resistance. 3) they will face some Support & Resistance; here's the level what I mean :

Resistance. 3 : 90.70.
Resistance. 2 : 91.47.
Resistance.1 : 91.29.

Support. 1 : 91.07.
Support. 2 : 90.89.
Support. 3 : 90.70.


Analyst InstaForex
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