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Today Technical Level :
Resistance. 3 : 84.56
Resistance. 2 : 84.39.
Resistance. 1 : 84.23.
Support. 1 : 84.02.
Support. 2 : 83.85.
Support. 3 : 83.68.
Today Outlook:
The USD/JPY is fluctuating between the marks 84.00 - 84.25 now. If the mark 84.25 is broken through today, there's a possibility that USD/JPY will reach 84.50 as a first target and 84.75 as a second one and then will go up to the 85.00 level. But before this scenario happens USD/JPY will face the today’s Resistance level 3 (84.56). USD/JPY usually loses about 10pips - 20 pips in case this level is hit by the pair; but after USD/JPY hits the Resistance level 3 it will go up to the mark 85.00. It is an indicator that the USD strengthens against the Yen.
On the other hand, if the mark 84.00 is broken down by this pair today, USD/JPY will reach the mark 83.75 as a first target, and the mark 83.50 as a second target; but before this situation happens, this pair will reach the today’s Support level 3 (83.68). After having hit this level the USD/JPY usually reverses between 10 pips to 20 pips, but if USD/JPY hits the Support level 3 and falls to the mark 83.23, it will indicate that the YEN has already strengthened against the USD.
