Given the long weekend In Japan and other Asian countries Barclays Capital says its a touch suspicious of USD/JPY's upside breakout Monday as it may be just a case of stop hunting in a thin market. The bank says given the absence of a momentum divergence signal it is loathe to change its bearish view in such a thin market and will stick with the downtrend Monday while resistance at 92.60 holds firm. However, if this level is breached then BarCap says assume the downtrend of the August highs is over. USD/JPY now at 92.20.
May The Force Be With You.
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