TECHNICAL ANALYSIS BY NSFX 08.08.2013
USD/JPY is currently down three figures this week and after we broke free of the daily Cloud Base in the Ichimoku formation (where all parameters now are bearish), downside has really been opened. Currently, the pair is flirting with the 76.4% Fibo retracement in the wave from 2013 highs to June lows at 96.15. A close below here would give room for a re-test of June lows at 93.80. Oscillators in overbought territory which could suggest some consolidation at current levels.