The Bank of Japan finally issued an incentive for the first time since March 2010, providing extra bank credit amounting to 10 trillion Japanese yen with a fixed interest rate for a six-month period; where such credit will be given one or two times per month in the sum of around 800 billion yens. Although, yesterday the yen became stronger versus the US dollar, apparently the BOJ seems to have failed again as the market saw that stimulus is not enough to hold the yen increase against the American currency.
The important intraday trading levels for today are:
Resistance. 3 : 84.91.
Resistance. 2 : 84.74.
Resistance. 1 : 84.58.
Support. 1 : 84.37.
Support. 2 : 84.20.
Support. 3 : 84.03.
Suggestions:
Scalping from 10 pips to 20 pips near the Support. 3 for BUY and the Resistance. 3 for SELL; but please, pay attention, that if this pair is still moving for 47– 50 pips after breaking through the Support. 3 or the Resistance. 3, then it is likely to continue the advance, so please, change the position beforehand.