TODAY TECHNICAL LEVEL :
Resistance. 3 : 81.66.
Resistance. 2 : 81.50.
Resistance. 1 : 81.34.
Support. 1 : 81.14.
Support. 2 : 80.98.
Support. 3 : 80.81.
TODAY OUTLOOK :
Before the Tokyo market opened last morning, the USD/JPY traded between 79.00 and 79.50, but after the Tokyo market opened this pair exploded to the upside (after breaking the 3 days high at 81.17). Until now the pair has been trading in the new range 81.25 - 81.75. However, pay attention for the today's Resistance. 3 usually after reaching this level the pair reverses between 10 pips to the 20 pips, but if the pair reaches this level and still goes up more than 50 pips in, this will denote that the USD/JPY will be going up again.
TODAY RECOMMENDATION :
BUY if the USD/JPY can break out and close above 81.75, set Take profit at 82.00.
SELL if the USD/JPY can break out and close below 81.25, set Take profit at 81.00.
