USD/JPY Forecast January 10th, 2012, Technical Analysis

The USD/JPY pair fell on Monday as the Dollar lost a little bit of its luster during the session. The pair still looks to be consolidative with a downside bias, but with the Bank of Japan sitting somewhere below, it is hard to think that selling is a good idea at this point. If you are not already short of this pair – you have simply missed this latest selloff. The areas below will certainly attract the attention of the central bank, and as a result – we are flat in this market until we get some kind of supportive movement in which to buy – in anticipation of an intervention.

USD/JPY Forecast January 10th, 2012, Technical Analysis
USD/JPY Forecast January 10th, 2012, Technical Analysis

Leave a Reply

Your email address will not be published.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