| Here you have John Putman's analysis for the Yen:Yen Outlook: MixedCyclical Studies: BullishPrice Action: Bearish The Yen's rapid decline yesterday has pushed it through linear support and deep into relative support. Continued pressure on the currency or a period of stagnation is likely into the Asian Session Underlying Outlook: USD/JPY: If the bearish trend continues to emerge I'd look for a test of 117.46/30 with an eventual grind towards 116.29. Right now the pair is fighting resistane at 118.52 and if we cycle ehigher and take this out I'd target 120.06 on an eventual retracement. EUR/JPY: On a break below 155.72 look for an eventual test of 154.00153.50. A reversal from here wuold target 158.13 GBP/JPY: looking much for the pair to stay pinned in he next session between 234.00 & 230.62. A break above would target 236.51 a break below; 228.04CHF/JPY: Looking like the first best bet for a cyclical move higher, a bounce out of current levels to 97.97 is favored here. source: FX Analytics |
