Tue, 31 Jul 2012 07:18:04 GMT
USD/JPY stalls at 78.08/06
USD/JPY has confronted 78.08/06, but did not manage to overcome it, resulting in commencement of recovery, which in turn is not anticipated to extend beyond 78.37, given that technical indicators on a daily timeframe give strong sell signals and thus the pair should be depressed. In the longer term, however, we expect the bearish momentum to weaken, as the currency