The USD/JPY pair fell hard on Friday as traders continue to sell off the Dollar against the Yen. The pressure of the downside is still strong, and the
The USD/JPY pair fell hard on Friday as traders continue to sell off the Dollar against the Yen. The pressure of the downside is still strong, and the breaking of the bottom of the triangle is a sign of further weakness. However, the Bank of Japan is certainly paying attention to the 75 area, and could intervene. Because of this, we like selling, but only for scalps at this point.
USD/JPY Forecast 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.
