Usd/Jpy

[anitagala124]

The pair temporarily fell to pre-intervention level amid an influx of safe-haven related flows as market participants continued to fret the never ending uncertainty over the global economy. In particular, there is growing concern that the actions taken by EU leaders are simply not enough to promote stability in the debt ridden states

[Victoryindia]

With the BOJ clearly stating that they favour a return of the currency towards 85 or even higher. We believe the downside in minimum whilst the topside will find stale USD long selling on bounces

[anchitkole]

the dominant trend remains bearish and S&P 500 positioning points to broad-based risk aversion, arguing for further weakness over the coming weeks (albeit not without a threat of intervention). A clear-cut entry point in either direction is not apparent for now and we will stand aside.

[anitagala124]

we can notice from the chart that the pair has closed under 77.00 , that's mean the down trend is expected and the pair might head to 76.50 then 76.20 , however the pair made a hourly correction

[anchitkole]

Prices put in a pair of Doji candlesticks at 76.28, the 76.4 percent Fibonacci extension support level, pointing to indecision above the pair’s record low, hinting a correction higher may be ahead.

[anitagala124]

the pair has failed in breaking 77.00 and bounced from it , so that's mean the down trend is expected and the pair might head to 76.30 and then 76.00

[Victoryindia]

USD/JPY recovered from yesterday's low of 76.30 to an intra-day high of 77.02 earlier today, the pair then retreated as Nikkei 225 fell back to negative territory (now is down 36 points)

[anchitkole]

the overall structure still remains bearish and it will take a break back above 80.00 to officially alleviate downside pressures and confirm reversal prospects. Below 76.25 negates.

[anitagala124]

the pair and as we can see from the chart has closed it's daily candle under the level of 77.00 , so , that's mean the down trend is still standing and the pair is heading to 76.60 then 76.40

[anchitkole]

The USDJPY is testing its record low and a break would shift focus to a Fibonacci measurement at 7258 (161.8% extension of initial decline from April high). A bounce should see resistance at 7785-7830 (50-61.8 Fibonacci and former pivot levels).