Forex: USD/JPY takes a pause below 82.50

FXstreet.com (Barcelona) - For the first time since Japan PM Noda called for anticipated elections last week, USDJPY is lower from its previous Asia-Pacific open, this time at 82.41 last, retracing from fresh 7-month highs at 82.83, while Tokyo will remain closed today for holiday, after the US did the same on Thursday. According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the pair is "Holding to its recent strengthhowever and making a pause rather than pointing for a deeper retracement," the analyst says.

"Candle formation suggests a reversal, though I won't be expecting much of a dip without buying interesting surging," Valeria explains. Recently finished EU Economic Summit in Brussels with yet another long day of negotiations without any major agreements, has sparkled a small move in risk aversion pushing USD higher and Yen even higher, making USDJPY visit fresh session lows at current 82.38.

Support levels for Valeria stand at: 82.10, 81.80 and 81.50, while resistance levels are located at: 82.60, 82.85 and 83.35.