USD/JPY Forecast October 3, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
Font Size
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The USD/JPY pair rose during the session on Tuesday as the 78 handle gave way. This suggests to us that we may see a move up to the 79 handle, but the length of the candle wasn't exactly expressing massive bullishness. In fact, we feel that more than likely this pair will grind its way back towards the top of this current consolidation area rather than move with any gusto.

The pair is essentially locked in a struggle between two central banks that are trying to print their way out of trouble. Because of this, we feel that the range bound attitude in this market will continue, and as result we are buying this pair closer to the 77.50 level, and selling it closer to the 79 handle.


USD/JPY Forecast October 3, 2012, Technical Analysis

USD/JPY Forecast October 3, 2012, Technical Analysis

Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network