USDJPY pressure remains

Written January 31, 2012 at 9:48 AM EST by  

After yesterdays fall below floor support (see daily chart above), the USDJPYS has remained pressured to the downside (albeit in a narrow non trending trading range). The price nevertheless has found support against trendline support at the 76.16 level. A break of this level will be needed to push the pair lower, with 76.10, 75.94 and the low at 75.56 the target downside levels.

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