USD JPY May be Headed to 92.88

Sideways-to-lower equity markets should continue to provide support forUSD JPY as Japanese investors pull money out of U.S. stock markets.

Sideways-to-lower equity markets should continue to provide support for USD JPY as Japanese investors pull money out of U.S. stock markets.

This mornng’s breakout over 91.32 confirmed the uptrend while at the same time establishing a higher bottom at 90.08.  Based on the main range of 97.78 to 87.99, look for a possible acceleration to the retracement zone at 92.88 to 94.04 over the short-run.