USD/JPY Forecast December 14, 2012, Technical Analysis
The USD/JPY currency pair rose during the session on Thursday as we continue to get bullish action and obvious signs that the Bank of Japan will continue to loosen their monetary policy. Because of this, this isn’t necessarily a pro-US dollar play, rather an anti-Yen play. In fact, the Yen is losing value against most currencies around the world, and this pair of course would be no different. If we can get above the 84 handle in this currency pair, we believe that this market goes much, much higher and becomes a long-term buy-and-hold type of situation. As for selling, it’s not even a thought.
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