I'm still expecting UJ to come down 80.00 or below. In a long term, UJ is likely to go up (in 2-3 months), but I bet UJ coming down for now (2-3 days) due to the US economy worsening (look at unemployment data this morning). Also, I don't see anyt positive factors in JP's economic policies -- they can't lower the rate, print more money, buy bonds, and so forth. There is no remedy for JP to weaken Yen EXCEPT for interventions which JP seems to be very reluctant to do because of negative impacts upon their international relationships.
I agree, though, 80.50 is a strong support, but if it breaks, UJ goes down fast
I agree, though, 80.50 is a strong support, but if it breaks, UJ goes down fast