Technical analysts at Mizuho Corporate Bank note that the pair USD/JPY is still trading within the “triangle” pattern.

The specialists underline that last week the greenback formed small “hammer” on the weekly candle chart against the bottom edge of the “triangle”. As a result, it’s possible to assume that this week the rate will hold above these levels.

Mizuho strategists advise to watch the weekly MA to see whether they manage to cap prices and send them lower later this month. In their view, it’s necessary to open small short positions at 82.25 stopping above 82.55 and looking for US currency’s decline to 81.85 and possibly to 81.35.



Chart. Weekly USD/JPY

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