USD/JPY Daily Forecast

Tuesday, July 27, 2010

The USDJPY failed to continue its bullish correction yesterday and now back below 87.00. My short term technical study is a a little bit mess for this pair but overall the major scenario remains to the downside with nearest bearish target around 86.25 - 85.86 before re-testing 84.80 area. Immediate resistance at 87.50 followed by 88.23.