The USD/JPY pair had a very negative week, slicing well below the 117 handle. The market is currently testing pre-significant support though, so the question then becomes whether or not we can actually continue the downward pressure in this type of environment. It’s likely that we will get quite a bit of volatility, so quite frankly it’s not until we get below the 160 level that we feel it’s easier to sell this market on a longer-term chart. Shorter-term traders will be attracted to this type of volatility though.
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