USD/JPY: the recent setbacks have been quite intense, the market collapse by the ADM, 200 days before finally finding support by 77.65. We have since seen attempts at recovery and we support that the market should continue to break higher, with views finally fixed on a retest and rupture of 2012 senior by UST up more. However, at this stage, we need to see a break and close above 80.00 back to alleviate the pressures weighing officially and to reaffirm the optimistic prospects.
-Written by Joel Kruger, technical currency strategist
To contact Joel Kruger, E-mail jskruger@dailyfx.com. Follow me on Twitter @ JoelKrugerTo be added to the list of distribution of Joel Kruger, send an email with the subject "Distribution list" line to jskruger@dailyfx.com
DailyFX provides news forex and technical analysis on trends affecting the world market currencies.
Learn forex trading with a free account of practice and exchange of graphics of FXCM.
No comments:
Post a Comment