USD/JPY Forecast Nov. 18th, 2011, Technical Analysis

The USD/JPY fell again on Thursday as traders continue to express a real lack of confidence in the global markets. The Bank of Japan has been intervening in the markets, pushing prices higher form time to time. The pair is in “No Man’s Land” at the moment, and cannot be bought or sold at these levels. The lower area around the 76 mark could invite intervention again, and a buy position down there could be enticing. Until we get down there, we don’t have much in the way of desires to trade this pair though.

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