The pair is trading around the retest areas mentioned in our previous reports at 80.75 and momentum indicators continue to offer positive support. Therefore,we expect the USD/JPY to move to the upside todaytargeting 82.25 and require stability above 80.75.
The trading range for today is among the major support at 79.80 and the major resistance at 83.50.
The short term trend is to the downside as far as 89.35 remains intact with targets at 77.70.
|Recommendation||Based on the charts and explanations above our opinion is buying the pair around 80.75 targeting 82.25 and stop loss below 79.80 might be appropriate|