Markets are now waiting for the results of the Monday's meeting of Prime Minister Naoto Kan and the Bank of Japan Governor Masaaki Shirakawa, and increased speculation that the Fed will loose its monetary policy before the meeting. BOJ is likely to extend the amount of reserve funds up to 30 trillion Yen, equivalent to $352 billion from the current 20 trillion Yen, or continued duration, fixed-rate loans to banks to be six months from three months. So please prepare for an unexpected move from this pair because of the possibility of intervention from BOJ to the Yen.
However here is important intraday trading levels for USD/JPY today:
Resistance. 3 : 86.05.
Resistance. 2 : 85.88.
Resistance. 1 : 85.71.
Support. 1 : 85.50.
Support. 2 : 85.33.
Support. 3 : 85.16.
Suggestion:
Taking Scalp for 10 pips to 20 Pips nearly Support. 3 for BUY and Resistance. 3 for SELL; but please consider if this pair after the break of Support. 3 or Resistance. 3 still goes to 47 pips - 50 pips it seems this pair will continue that movement, so please change the position before.
