USD/JPY forecast for the week of October 15, 2012, Technical Analysis

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The USD/JPY pair fell during the week but bounced off of the 78 handle to prove it to be supportive yet again. This pair is a battle between two central banks are trying to work against the value of their own currencies, and as such we see the potential for a bounce to the 80 handle before it’s all said and done. Nonetheless, this pair will more likely move sideways overall for the foreseeable future; so long term trading is going to be very difficult to do. With this being said, on a break above the 80 handle, we think this pair goes much, much higher and this would in fact signal a longer-term buy-and-hold type of situation. Until then, this will be the realm of short-term traders.

USD/JPY forecast for the week of October 15, 2012, Technical Analysis

USD/JPY forecast for the week of October 15, 2012, Technical Analysis

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About:FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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