The pair is still under pressure but managed to hold it historical low at 76,30 last week.
We now wait for either a break below this support for an acceleration of the decline or a meaningful bounce. To confirm a possible reversal, we will need to see a break above 80,00 which is a former key support.
We remain very cautious with the Japenese Yen as the BoJ may intervene anytime soon to curb the strengh of its currency which would result in a significant move on all the JPY related pairs.
Provided by atf-forex-trading.com