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USD/JPY Classical 05.12

USD/JPY Classical 05.12

2010-05-12 05:56:00
Joel Kruger, Technical Strategist
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USD/JPY: The whipsaw price action from last Thursday’s violent trade has delayed our outlook but certainly does not change our overly constructive bias. The medium-term higher low from early March just over 88.00 remains intact, with the market stalling out ahead of the level, and we now look for a push higher from here back towards and through next key topside barriers by 95.00. Only a break back below 88.00 would negate and give reason for pause.

 

 

 

 

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

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