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Tuesday, October 12, 2010

USDJPY: Struggling To Recover Within Longer Term Downtrend

Tuesday, October 12, 2010
USDJPY:  Struggling To Recover Within Longer Term DowntrendUSDJPY: Although the pair is now struggling to stage a recovery, it continues to retain its overall bearishness. It looks to return back below the 81.36 level and towards the 81.00 level. We think the pair should even weaken further targeting its major support standing at its 1995 low at 79.75 if a violation  of the 82.00 level

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