Here is an intraday important trading level for this currency pair today :
Resistance. 3 : 83.91.
Resistance. 2 : 83.75.
Resistance. 1 : 83.58.
Support. 1 : 83.37.
Support. 2 : 83.21.
Support. 3 : 83.04.
Suggestions:
Scalping from 10 pips to 20 pips near Support. 3 for BUY and the Resistance. 3 for SELL; but please, pay attention, that if this pair is still moving for 47– 50 pips after breaking through the Support. 3 or the Resistance. 3, then it is likely to continue the advance, so please, change positions beforehand.
Market Outlook :
In August 2010, the industrial sector of Japan fell by 0.3% for the third month in a row. The cause of this decline is the weakening of the export hit by the strengthening of the Japanese yen, so that the products from Japan are less competitive on a global market, especially against products from China. The analysts expected that the export would rise by 1%. Machinery sector, iron and steel production were the main contributors to the monthly decrease. The Commerce Department now predicts the Japanese production will decline by 0.1% in September and by 2.9% in October 2010. It seems that the problems will still haunt the Japanese economy and the steps in Japan’s economic recovery are still halting and uncertain.
