The USD/JPY pair fell during the Friday session as the rally finally took a break. The gap from earlier in the week still has not been close, and this
The USD/JPY pair fell during the Friday session as the rally finally took a break. The gap from earlier in the week still has not been close, and this could be the beginning of that attempt. However, we still see this pair as a one-way trade, and certainly are not ready to start selling. Going forward, we think that the 84 level will continue to offer itself as a “floor” in this marketplace, and as a result we will buy supportive candles as they appear. In fact, we fully expect this pair to reach the 90 handle sometime early in 2013.
USD/JPY Forecast December 31, 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.
