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USD/JPY: Key Support Tested as Sellers Eye 87.00

USD/JPY: Key Support Tested as Sellers Eye 87.00

2010-07-02 07:00:00
Ilya Spivak, Sr. Currency Strategist
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Strategy: Pending Long

USDJPY has dropped below major resistance-turned-support at a falling trend-line established from the swing top in April 2009 to settle at the bottom of a downward-sloping channel that has confined price action since early May. We continue to treat the current downturn as a buying opportunity in line with our long-term fundamental outlook, monitoring prices for an actionable long entry setup.

070210 JPY


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