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Technical Analysis: USD/JPY
The pair dropped to the 81.00 level, aiming to retest the key support at 80.20. A break below 80.20 could aim the pair for testing the 1995 record low by 79.75. Meanwhile, daily studies are on the oversold territory, so a bullish reversal could take place from current levels or as soon as the pair reaches the 79.75-80.20 support area. A daily close back above 82.00 would be required to relieve the downside pressure and aim the pair to the 84.50 resistance.
Edward Smith, technical analyst of company Admiral Markets.
At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.
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