USD/JPY Forecast September 28, 2012, Technical Analysis

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The USD/JPY pair fell during the session on Thursday, but remained above the 77.50 level. This market is currently being buoyed by the Bank of Japan, and as such we are not willing to sell it. Yes, we do see the bearishness in this chart, but aren’t willing to try and dance with the central bank.

We are currently waiting to see some type of supportive candle in which to start buying this pair again, but we do see that the 79 handle is resistance as well. In other words, although we know that there is a trade in this pair coming sooner or later, we aren’t overly impressed nor do we feel rushed to be in it at the moment.

 

USD/JPY Forecast September 28, 2012, Technical Analysis

USD/JPY Forecast September 28, 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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