The Japanese Yen has enjoyed a comeback of sorts. Friday's rejection at the 200-day MA was led by diverging daily studies and the latest bout of risk aversion has pushed the USD/JPY down significantly. The next level of support to watch is 90.40, since it marks a 38.2% retracement and an equality target. A sustained close below targets the 88.27 level, where a daily Ichimoku cloud, the 61.8% retracement and a 1.618 Fibonacci target lie. Dips below these pivots (that demonstrate hourly bullish divergence) should be accumulated.
