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USD/JPY Classical 05.28

USD/JPY Classical 05.28

2010-05-28 08:08:00
Joel Kruger, Technical Strategist
Share:

usdjpy05.28

USD/JPY: The whipsaw price action from violent trade in early May 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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