USDJPY: Drift Lower Continues Below 79.00
Prices turned lower from Andrew’s Pitchfork resistance to test support at 77.96, marked by the June 1 close and the Pitchfork midline. A break below that targets the September 13 close at 77.47 and the Pitchfork bottom (76.93). Pitchfork top resistance is now squarely at the 79.00 figure, with a break above that exposing 79.65 and 80.39. An actionable trade trigger appears absent for now and we will stand aside until something more compelling presents itself.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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