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Forex Flash: Significant USD/JPY support expected at 78.00 – Scotiabank

By FXstreet.com,  July 20, 2012, 04:18:00 PM EDT

FXstreet.com (San Francisco) - USD/JPY closed at its lowest price in 6-weeks Friday, ending down 0.9% on the week to 78.47. The outlook for USD/JPY remains bearish, with "RSI at 38 indicates potential for continued decline," according to Eric Théorêt, Currency Strategist at Scotiabank. "Congestion at 78.50 is likely, with significant support expected at 78.00."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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