Currency strategists at Mizuho Corporate Bank note that the pair USD/JPY is falling down to the lower edge of its triangle consolidation. Tenkan-sen and Kijun-sen have just crossed forming the “dead cross” and all elements of the daily Ichimoku chart are now pointing at the short positions.

The specialists expect the greenback to test the 2010 multi-year minimum at 80.21. In their view, it’s necessary to sell US currency on any bounce to 81.80 stopping above 82.35 and looking forward to decline to 81.35 and then to 80.55.



Chart. Daily USD/JPY

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