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USD/JPY Classical 03.05

USD/JPY Classical 03.05

2010-03-05 07:23:00
Joel Kruger, Technical Strategist
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jpy2

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. A bullish outside day on Thursday confirms our outlook with a resumption of gains now seen back towards initial resistance by 90.35 over the coming sessions. Only back below 88.00 negates and gives reason for pause.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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