Forex: USD/JPY bulls looking for 82.85 – V.Bednarik

FXstreet.com (San Francisco) - USD/JPY made as sharp recovery to levels back above 82.00 on Wednesday, lead by JPY weakness after BoJ Deputy Gov. Nishimura suggested potential for easing past 2013.

Spot managed to close near its intraday highs at 82.45 to record a daily gain of 0.7%. “Still trading in range, the recovery needs to extend beyond recent highs of 82.85 to confirm the bullish continuation, although the pair will likely wait for upcoming US NFP data on Friday to post more interesting movements,” comments Valeria Bednarik, Chief Analyst at FXstreet.com. The analyst identifies support levels at 82.30, 82.00 and 81.80, while bullish targets lie at 82.60, and beyond the cited 82.85 level, at 83.10.

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