The USD/JPY pair fell hard for the week as the downward pressure continues. The Bank of Japan continues to lift this pair as the interventions over the
The USD/JPY pair fell hard for the week as the downward pressure continues. The Bank of Japan continues to lift this pair as the interventions over the recent past has keep a bit of a floor in this pair. However, the area that the BoJ seems to be interested in the 75 level as a possible area to get involved at. The 80 level above is a massive resistance area, so as a long-term trade, we don’t like trading the USD/JPY until we can clear the 80 mark on a daily close.
USD/JPY Forecast for the Week of January 2, 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.
