Forex: USD/JPY 70 pips down so far

on Jun 26, 2013
Listen Wednesday June 26th_: Yesterday the pair declined initially to 96.91, but by the end of the day the quote had rebounded to close to 0.53 percent up. Yesterday’s uptick stopped right at the 89-day moving average and thus far today the price has already dropped by 0.73 percent from this trend indicator.

Currently the USD/JPY is trading at 97.45, between the MA89 and MA200 on the 1H, 4H and daily charts.
In a bearish scenario the pair may drop towards 93.77 (13 June low), if the 96.90/80 and 95.60 supports don’t hold. The bullish path towards 100.00 passes through the 24 June high of 98.69 and 99.27.
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