The USD/JPY pair rose during the session on Tuesday as the 84 handle continues to offer support. The testing of it for support has gone on for the last 40
The USD/JPY pair rose during the session on Tuesday as the 84 handle continues to offer support. The testing of it for support has gone on for the last 40 hours, and the fact that we could not break back down suggests to us that we will be going higher. The ultimate signal of course would be a move above the highs from the session on Tuesday, and as a result we would be adding to are already long position at that point time. As for selling, we see absolutely no reason to consider it at this point, and will be looking at every pullback as a potential buying opportunity going forward.
USD/JPY Forecast December 19, 2012, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
