USD/JPY Forecast January 16, 2012, Technical Analysis

USD/JPY rose during the session on Friday as the market continues to tread water at the 76.50 level. The pair continues to move sideways in a fairly tight range. The 76.50 level looks as if it is the bottom of a range that goes up to the 78.25 area or so. The pair can be bought if we get some kind of supportive candle, but we haven’t seen anything too exciting yet. Selling isn’t an option as we have intervention threats just below.

USD/JPY Forecast January 16, 2012, Technical Analysis
USD/JPY Forecast January 16, 2012, Technical Analysis

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