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USD/JPY forecast for the week of December 24, 2012, Technical Analysis

By:
Christopher Lewis
Updated: Aug 21, 2015, 01:00 UTC

The USD/JPY pair had a fairly neutral week, but with most important is the fact that we managed to close above the 84 handle. We have broken out, and

USD/JPY forecast for the week of December 24, 2012, Technical Analysis

The USD/JPY pair had a fairly neutral week, but with most important is the fact that we managed to close above the 84 handle. We have broken out, and considering how strong the previous weeks candle was, it is rather impressive that we managed to stay afloat for the entire five sessions.

If we managed to break the top of this last week candle, it looks like we could go to the 85 handle in relatively short order, followed by the 90. Because of this, we are very bullish of this pair suddenly, and find this pair more than likely to be one of the better trades for the year 2013. We are already long in this currency pair, and will continue to be for the foreseeable future.

 

USD/JPY forecast for the week of December 24, 2012, Technical Analysis
USD/JPY forecast for the week of December 24, 2012, Technical Analysis

About the Author

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.

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