USD/JPY Classical 07.16
USD/JPY: Thursday’s sharp pullbacks have put a serious dent in recovery prospects and the market now looks like it could be attempting to establish below key barriers at 87.00. However, we will retain our bullish bias, unless we see a daily close below 87.00. A break back above 88.50 will now be required to get things moving back to the upside.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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