Technical analysts at Mizuho Corporate Bank note that the greenback hovers at a very thin daily Ichimoku Cloud trading versus Japanese yen and the small “spike high” formed on Friday ahead of trend line resistance underlines instability at current levels.

According to the bank, it’s necessary to enter small shorts at 83.13/83.40 stopping above 83.75. The greenback’s going to decline to 82.50/82.35 and then to 81.50.

The specialists believe that the pair USD/JPY will fluctuate sideways staying in range between 80.00 and 85.00 during the entire January and maybe the whole first quarter of the year.



Chart. Daily USD/JPY

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