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Forex pairs in this Article » USD/JPY (Barcelona) - The USD/JPY was unable to sustain an early bullish push today which brought it to a daily high of 80.70, and currently eases underneath 80.50 just ahead of the European session. The pair has been rising for 3 consecutive days as it moves away from a 1-month low of 79.70 reached last week, however seems to be capped at this previous max.

The technical analysis team over at AceTrader suggests: "Although dlr's retreat after initial rise to 80.70 in Tokyo suggests minor consolidation is seen in European morning trading, as the early breach of last week's 80.47 top signals recent fall has made a low at 79.70 Wed), gain to 80.80/90 is likely. Buy for this move n only below 80.20 (NZ) indicates intra-day top is in place, risks 79.97/00."
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