Resistance: 81.71 moderate/82.25 minor/83.04 minor
Support: 80.92 strong/80.37 moderate/79.58 minor
USDJPY is generally bullish with Hourly Bearish Engulfing occurring near a strong support level at 80.92, the Pivot Point. With the pivot directly beneath us a close under 80.92 has to be seen before jumping short. The immediate object will be 80.37 break of which suggest you have a tanking market with 79.58 as its target. Stops should be placed above the Pivot Point or alternatively the patterns high.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices