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Forex Flash: USD/JPY needs to confirm upside through 87.81 - TD Securities

By FXstreet.com,  January 09, 2013, 09:56:00 AM EDT

FXstreet.com (Barcelona) - TD Securities analysts point to Fitch's warning of downgrade to Japan due to its public debt as the reason of the pair's stronger move overnight. " The lift in USD/JPY, however, can still be viewed as within the consolidation theme so far. A rise above yesterday's high of 87.81 would be more significant (marking an outside range day), suggesting more JPY weakness in the coming days", wrote analysts Shaun Osborne and Greg Moore, finding a retracement of the three month upside possible while below 87.81.




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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