Forex Analysis : USD/JPY … Expect JCB intervention if it hits 82.50 or so

Another tough week for the Japanese points to a move to 82.50 or so for the Yen, with 82.94 seen as the last ditch support and breakdown point for coming days.
Trade View
• Not exactly what the JCB would like to see, we feel intervention is but a breakdown away here, and suspect at the 82.40-82.60 range we may get some central bank activity in the market place.
• If 82.94 or so manages to hold it will likely mean the beleaguered USD is enjoying a technical rebound, but we fear such is just wishful thinking and tend to favor the view that USD/JPY will likely retest the 82.40-82.60 range this week.

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