USD/JPY Forecast September 20, 2012, Technical Analysis
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The USD/JPY pair had a fairly wild day on Wednesday as it initially broke above the 79 handle, only to be turned around and slammed back down to the 78.30 area. We still maintain that the Bank of Japan is paying attention to the 78 handle, and as such we are willing to buy on signs of support just below where we currently are. We will be looking for short-term trades, not massive long-term buy-and-hold once. We think that this pair should continue to be good for 50 to 60 pips at a time as we bounce around in this range.
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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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