Forex: Japanese Yen

The US Dollar broke support at ¥80 Japanese Yen and is now at the 61.8% Fibonacci level. Failure of short-term support at ¥79 would indicate another test of primary support at ¥76. The long-term bearish divergence on 63-day Twiggs Momentum continues, however, and a trough above zero would indicate a fresh primary advance. Breakout above ¥84 would confirm.

USD/Japanese Yen

* Target calculation: 84 + ( 84 – 80 ) = 88

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