Resistance. 3 : 81.12
Resistance. 2 : 80.96.
Resistance. 1 : 80.81.
Support. 1 : 80.61.
Support. 2 : 80.45.
Support. 3 : 80.29.
Today, it seems the USD/JPY will try to break the level of 80.25 before this pair goes to 80.00. As we know this level is a critical Support for the USD/JPY (today), because if this level is broken through and the USD/JPY closes below 79.75 this will indicate the USD/JPY moves to the next new Large Quarter Point 80.00 to 70.00 level. For now we believe this new playing areas will make the Japanese Government to feel uncomfortable regarding its economic situation especially for its export. The good news for today is that this pair has a strong Support at 80.29 (Intraday Support. 3). If this level is hit by this pair, it will cause a reversal to up between 10 pips to 20 pips. However, we must be careful if the USD/JPY still goes down to 79.85 after it hits the level of 80.29, since this will indicate the YEN is too strong for the USD, and this pair will be traded in new area at 80.00 to 70.00. On the other hand, if the USD/JPY moves up and hits Resistance. 3 at 81.12 there is a possibility for this currency pair to reverse down between 10 pips to 20 pips. In case after the pair hits that level and goes up to 81.56, this will indicate the USD is stronger than the YEN;, this second scenario will, hardly, happen today.