USD/JPY Mid-Day Outlook

USD/JPY Mid-Day Outlook

Intraday bias in USD/JPY remains neutral and deeper retreat could still be seen.   Nevertheless, we'd maintain our bullish view that rebound from 80.93 is resuming and should target 84.49 resistance next. Hence, downside of the current retreat should be contained above 61.8% retracement of 81.12 to 83.96 at 82.20 and bring rise resumption.<img src="http://feeds.feedburner.com/~r/ActionInsightallTechnical/~4/zR6x2j-OAgg" height="1" width="1"/>

Source: USD/JPY Mid-Day Outlook