TODAY TECHNICAL LEVEL :
Resistance. 3 : 83.42.
Resistance. 2 : 83.26.
Resistance. 1 : 83.09.
Support. 1 : 82.89.
Support. 2 : 82.73.
Support. 3 : 82.56.
TODAY OUTLOOK:
Since the Non farm Payrolls data release last week this pair has opened in the range between 83.00 and 83.25; after in the early morning this pair filled the gap created at the market opening, the USD/JPY now seems to be trying to test the 83.25 level. However, please pay attention to today’s Resistance. 3 and today’s Support. 3, usually after reaching one of these levels the USD/JPY reverses between 10 pips to 20 pips. If the pair reaches one of these levels and still goes more than 50 pips in the chosen direction, this will denote that the USD/JPY has found its tendency for today.
TODAY RECOMMENDATION :
BUY if the USD/JPY breaks out and closes above 83.25, set the first target at 83.50 and the second target at 83.75.
SELL if the USD/JPY can break out and close below 83.00, set the first target at 82.75 and the second target at 82.50.
