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Wednesday, 6 July 2011

Forex: USD/JPY attempting to regain 81.00

Dollar rejection at 81.20 high yesterday extended below 81.00 over the Asian session, to find support at 80.80, and the pair has regained lost ground on European trading session, returning above 81.00 and approaching resistance area at 81.20/30.

On the upside, immediate resistance lies at the mentioned 80.20/30 (Jul 5 high/Jun 28 high) and above here, 81.75 (May 31 high) and 82.20 (May 24/25 highs).

On the downside, support levels lie at 80.80 (session low), and below here, 80.55 (Jul 4 low) and 80.25 (Jul 1 low).

USD/JPY Jul 06 at 11:14 GMT

81.08/09 (0.01%)

H 81.14 L 80.78

   S3 S2 S1 R1 R2 R3
  80.4831     80.6853     80.8875     81.3925     81.5960    81.7995

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