USD/JPY Forecast for the Week of January 9th, 2012, Technical Analysis

The USD/JPY pair sat absolutely still for the week as it finished unchanged. With this in mind, we don’t expect much on the long-term front as the pair is being pressured to the downside by the 80 level, and the Bank of Japan continues to support this pair. If you are a long-term trader, you will want to see a daily close above the 80 handle in order to buy and hold. Otherwise, with the BoJ always a possible foe – stay out of this pair.

USD/JPY Forecast for the Week of January 9th, 2012, Technical Analysis
USD/JPY Forecast for the Week of January 9th, 2012, Technical Analysis

Leave a Reply

Your email address will not be published. Required fields are marked *