USD/JPY-----to retest 82.50 near term ??

In view of the fact that global bond yields are near their 16 months lows, aggravated by the expected further Easing measures from FED, we envisage that continual strengthening of Yen cannot be avoided near terms.



Technical Analysis

H4 Usd/Jpy Chart

Weekly Usd/Jpy Chart

On H4, we observe that  86.27 is a critical resistance/support  (just above the 61.8 % Fibo Retr) . Please do note that the daily Tenkan-sen line supports is near 86.50 , and the Kijun Line is  near 87.00.This can also be the retracement  level before it continues its next downward journey. The recent low at 85.02 shall be retested soon . 

On the Weekly chart, the next immediate support (Support 2) is 84.40.  Breaking this level may expose  82.50,( which is the 1.6180 extension on the Fibo ).

You may also note that the near term Extreme bearish sentiments on H4, DAILY  and Weekly charts.



In short, USD/JPY should head further down  below  84.00 near term.