Resistances and supports updated the 07/27/2010
Resistance and support are most important level, and these help traders to trade well in market. Even without these levels itís very difficult to trade in the market. It helps traders to initiate the position. Many traders follow pivot points
Japanese Yen (JPY) ĖThe Yen weakened against all major currencies, falling to a 12 day low versus the Dollar after Japanís government said it intervened in currency markets for the first time in 6 years, to stem the yenís sharp gains. The trend of the USD/JPY is opposite from downwards to upwards since yesterday, therefore a long position is preferred, the next resistance on the daily chart is located at 86.50 levels. Overall, USD/JPY traded with a low of 82.87 and with a high of 85.77. No economic data expected today.