USD/JPY Forecast January 30, 2012, Technical Analysis

USD/JPY fell during the Friday session as the Dollar continues to weaken against most other currencies. The area just below starts the support level that the Bank of Japan has been defending, so this area could produce interventions. Because of this, we certainly cannot sell at this point. However, until we get a supportive candle, we can’t buy wither. Because of these factors, we are going to stay out of this pair for the time being. 

USD/JPY Forecast January 30, 2012, Technical Analysis
USD/JPY Forecast January 30, 2012, Technical Analysis

 

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