USD/JPY eases under 83.00 (Barcelona) – While trading pretty much quiet over the entire Asian session, the USD/JPY is currently showing slight bearish pressure as it dips below support at 83.00. The pair currently quotes around a daily low of 82.90 where it searches for traction. 

Slobodan Drvenica of Windsor Brokers comments: “Strong rally emerged from yesterday’s 81.67, accelerating gains after break above 82.27, previous high, to reach 83.38, retracing over 61.8% of 84.49/80.92 downleg. Corrective pullback is under way, with immediate support at 82.80. Only loss of 82.45/27 would delay bulls.”

Drvenica goes on to list support at 82.80, 82.45, 82.27 and 81.87 while resistance is placed at 83.38, 83.70, 83.90 and 84.19.


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The Art&Science of Trading Gold
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