The USDJPY has reversed sharply following the 5 wave advance from the 2/1 low. Supports to watch in the coming week(s) are 7990, 7935, 7865, and 7830. Play the short side as long as price is below last night’s low (8166). Resistance is 8075.

Jamie's Pick: 02/27/12
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.