During the US Open this morning USDJPY spiked up from the previous high of 136.720, a price area not seen since April 1998.
Based on the price action from that time period, if USDJPY has a candle body close above 137.000 the pairing will go into a buy with targets 137.185 | 137.560 | 137.860. Resistance is set for 138.000.
If USDJPY has a candle body close below 136.700 the pairing will go into a sell with targets 136.500 and 136.350. Support is set for 136.200.
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Based on the price action from that time period, if USDJPY has a candle body close above 137.000 the pairing will go into a buy with targets 137.185 | 137.560 | 137.860. Resistance is set for 138.000.
If USDJPY has a candle body close below 136.700 the pairing will go into a sell with targets 136.500 and 136.350. Support is set for 136.200.
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