Forex Flash: USD/JPY short term support at 85.50 - TDS

FXstreet.com (Barcelona) - With most markets including Tokyo still closed on holidays, USDJPY is currently trading near its highest quote since July 2010, last at 86.60 according to Reuters, and Toronto based FX Research Team at TDS still "remain bearish on the JPY but, with the market heavily short JPY already, we prefer to look to buy USDJPY dips (GBPJPY,etc.) dips," the analysts say, adding: "Short-term USDJPY support is 85.50."