USDJPY Technical Levels for 09/16/2015

If you trade the USD/JPY Forex pair, keep your eyes on the the 120.46 pivot level. This area did provide resistance yesterday, as the market reversed rapidly once it his this level. Today price managed to breakout over 120.46 and when price retraced back down, the 120.46 level then provided support. Price is currently hoovering around 120.61, so the 120.46 level should now act as support again. However, if price does make it under 120.46, today or tomorrow, then this level will most likely turn into resistance again. Trade accordingly!