Forex: USD/JPY vulnerable for sub-79 test – FXWW
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USD/JPY
FXstreet.com (San Francisco) - Tuesday saw USDJPY extend its retreat from recent highs in the 79.65 price zone, closing Noram down by just five pips to 79.23, lower for a second consecutive day.
"USDJPY was capped by corporate offers above 79.65 and looks to be vulnerable for a test of sub-79 levels," says Sean Lee, founder of FXWW. "The short-term market would seem to be quite long, according to Prime Broker and Retail Market reports, and what doesn't go up usually goes down! Support should be solid near 78.80/85."
"USDJPY was capped by corporate offers above 79.65 and looks to be vulnerable for a test of sub-79 levels," says Sean Lee, founder of FXWW. "The short-term market would seem to be quite long, according to Prime Broker and Retail Market reports, and what doesn't go up usually goes down! Support should be solid near 78.80/85."
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