Daily Forecast - 27 August 2015
USDJPY Spot
USDJPY holding above 119.90/85 is positive for today with the first obstacle at 120.35/39 of course. Be ready to buy a break above here however to target very strong resistance at 120.75/120.85 for a selling opportunity with stops at 121.10. A break higher however could reach as far as 121.80/90 for the next selling opportunity.
Failure to beat 120.35/39 triggers a move to 119.90/85 then first support at 119.50/45. Try longs with stops at 119.25. A break lower targets 118.93/88. Try longs with stops at 118.70. Better support at 118.55/50 should hold the downside at this stage. Stop at 118.20.
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