USDJPY: Weakens, Closing In On The 75.92 Level (Specal Focus)

USDJPY:  With continued bearish threats seen, further weakness is expected to shape up towards its 2011 low at 75.92.

A decisive clearance of that level will eventually resume its long term downtrend towards the 74.00 level and then the 73.00 level, all representing its psycho levels.

On the upside, USDJPY will have to break and close above the 80.19 level traded on Aug 04’2011 to end its present bearishness and create scope for more gains towards the 81.47 level, its July 08’2011 high.

Further resistance lies at the 82.21 level and then the 83.27 level, its April 18’2011 high.


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