Resistance. 3 : 83.45.
Resistance. 2 : 83.29.
Resistance. 1 : 83.12.
Support. 1 : 82.92.
Support. 2 : 82.76.
Support. 3 : 82.59.
Since early morning the USD/JPY has been trading in a ranging situation between 82.86 and 83.06. It seems breakout of these two levels might direct this pair for the whole day. 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 can break out and close above 83.25, and set take profit at 83.50 as the first target and 83.75 as the second target.
SELL if the USD/JPY can break out and close below 82.75, and set take profiit at 82.50 as the first target and 82.25 as the second target.