Today Technical Level :
Resistance. 3 : 82.55.
Resistance. 2 : 82.39.
Resistance. 1 : 82.23.
Support. 1 : 82.02.
Support. 2 : 81.86.
Support. 3 : 81.70.
Today Outlook :
Since the USD/JPY has got a strong upside movement 2 day ago now this pair is starting to retrace, anyway this currency still tries to reach 82.03 (Fibonacci Support 61.8%). If this pair hits and closes below this level, then the USD/JPY will probably meet with new support at 81.81 level (Fibonacci Support 78.6%). In case this pair can break out and close bellow all these levels this will lead to the weakening of the USD against the YEN, especially if the USD breaks through and closes below 81.50. However before this pair moves down to that level it must face the Support. 3 at 81.70. Usually, after the USD/JPY hits the Support. 3 area it reverses to upside between 10 pips to 20 pips, otherwise if this pair after hit the Support. 3 area still goes down to the level of 81.25, this will indicate the USD/JPY has a strong downside momentum for today. On the other hand, the USD/JPY can go upwards to the Resistance. 3 at 82.55, usually the USD/JPY will reverse to the downside between 10 pips to 20 pips. However, if the pair reaches the Resistance. 3 and moves up to the mark of 83.00, this will denote the USD/JPY has a strong up momentum for today. However, please be attentive because today it is the Bank Holiday in the USA, so please be ready for an unexpected movement and volatility today.
