The Dollar Yen risk remains on the downside as upside attempts continue faltering, according to Mohammed Isah, technical analyst at FXTechstrategy, who expects the pair to break lower, heading towards 79.55 on its way to 78.00 and, eventually to 76.18.
Only a sustained break through 81.27 level would ease downside pressure and shift the pair's ficus to higher levels, says Isah: " a break and hold above the 81.27 level, its Jun 28’2011 high must occur to put its downside vulnerability on hold and then aim at the 82.21 level."
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