Tue, 20 Nov 2012 08:43:18 GMT
USD/JPY retreats from a high of 81.55
A sharp rally from 79.38/23, which is mainly formed by the 55 and 200-day SMAs, proved to be unsustainable and was halted ahead of 81.79/92, resulting in an inception of a bearish correction. The U.S. Dollar could weaken until the level of 80.89/67 is reached, though we also cannot rule out a deeper retracement, back to 79.38/23, as neither 80.25