Hi guys, the market trading calm and quiet. We may see quite sessions throughout the week as there are not many economic events that can influence the market.

USDJPY traded in a small trading range, especially under the 111.250 level. The market continued to trade with limited volatility in the lack of any important economic news from both the economies. In the preceding week, the pair tested my proposed take profit level of 111.250 after it broke out of its consolidated narrow range of 110.924 – 109.798.

JPY
• No Economic News Expected
USD
• Existing Home Sales
• Richmond Manufacturing Index

Support & Resistance Levels

R3: 111.79
R2: 111.44
R1: 111.23
Pivot Point: 110.88
S1: 110.53
S2: 110.32
S3: 109.97

Recommendation

Sell Below 111.250
Take Profit
• 1st @ 110.20
Stop Loss @ 111.40

USDJPY- Chart

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