USD/JPY Classical 03.04
USD/JPY: Currently in the process of chopping around, with the market most recently rolling over after stalling out above 92.00. Nevertheless, our core outlook in the pair is bullish, and we recommend looking to buy into the current dip. Although we did not anticipate a close below 88.50, we continue to see the near-term risks for an upside reversal and will look for the daily RSI dip below 30 to consider establishing a fresh long position. For now, stay sidelined and let things play out.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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