USDJPY: A third day of upside recovery is now underway suggesting further gains towards the 79.63 level, its daily 200 ema could be developing. Above here will target the 80.00 level followed by the 81.77 level where a break will signal further upside towards the 82.53 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, though broader risk points lower medium term, it will have to break below the 77.66 level, its Jun 2012 low to annul its present recovery and resume its weakness. Further support stands at the 77.02 level. All in all, USDJPY continues to recover higher following its recent weakness.
Discover how our Daily Forex Research Trusted by Over 3,000 Traders can help you make easy and smart trading decisions.
