Forex Flash: USD/JPY, buy with a target of 80.65 - UOB

FXstreet.com (Barcelona) - The recovery from last week's low of 79.28 bodes well for an extension of gains in USDJPY, SAYS Quek Ser Leang and Jimmy Koh, FX Analysts at Singapore-based UOB Group; "the Daily MACD holds comfortably above 0 and Daily ADX suggests of a possible trending up-move. Immediate resistance is at the 80.63 June's high (50% fib retrac 84.18-77.13) followed by the 81.78 April's high. Only a move below 79.15-20 will indicate a temporary top is in place. Buy 80.10, 79.70 (average 79.85) with 79.15 stop-loss with a target of 80.65 followed by 81.75-80."