The USD/JPY pair fell on Tuesday as the Dollar got sold off in general. The downward momentum in this pair is immense, and the path of least resistance is
The USD/JPY pair fell on Tuesday as the Dollar got sold off in general. The downward momentum in this pair is immense, and the path of least resistance is certainly to the downside. The 78 level continues to offer serious resistance, going all the way up to the 78.50 level. The market should continue to offer resistance all the way back up to the 80 level, which is massive resistance. Because of this, we are selling rallies in this pair going forward.
USD/JPY Forecast December 21, 2011, 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.
