USD/JPY Forecast for the Week of December 5th, 2011, Technical Analysis

USD/JPY had a bullish week over the last five sessions, but continues to sit below the crucial 0.8000 handle. The area is where we consider the trend to have changes, and we have a long way to go if we are going to reach it. The Bank of Japan is sitting under this pair currently, and probably the only reasons we aren’t talking about a 60 handle at this point in time. Until we get a close above 0.800, we aren’t willing to take any longer-term buy positions. We don’t like selling for longer-term trades either as the intervention threat is also there. Selling this pair on the shorter time periods seems to be the best route at the moment.

USD/JPY Forecast for the Week of December 5th, 2011, Technical Analysis USD/JPY Forecast for the Week of December 5th, 2011, Technical Analysis

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