USD/JPY - 81.75
New strategy:
Stay on the sidelines
While the greenback extended retirement 82.82 to 81.48 yesterday, as the dollar rebounded on short-covering, maintaining our view that further consolidation would be just and 82.00 recovery is likely, however, break the Kijun-Sen (now at the 82.14) is necessary for the form of retirement 82.82 ceased signal and provide stronger rebound to 82.30 and then 82.50 but said resistance must remain intact.
Disadvantage, below said support would this week low waiting 81.27 but he break is necessary to note the recent decline in high 85.53 resumed and extends the weakness to 81.00 and perhaps to 80.50/55, howevera psychological support to 80.00 must remain intact.
As near-term Outlook is mixed, we would be staying on the sidelines in the meantime.
