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Technical Analysis: USD/JPY

After the violent drop-off to fresh record lows by 76.35 the pair surged back to the 79.00 level. However, the risks are on the downside and we could see...

After the violent drop-off to fresh record lows by 76.35 the pair surged back to the 79.00 level. However, the risks are on the downside and we could see a retest of the 76.35 low, but any additional declines below 76.00 are seen limited. Only a close back above 80.00 would be needed to take the downside pressure off.

Edward Smith, technical analyst of company Admiral Markets.

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