USD/JPY Forecast Nov. 21st, 2011, Technical Analysis

USD/JPY fell during the Friday session, but managed a bounce to form a hammer at support. The pair looks like it is ready to bounce a bit, but buying isn’t advised. The pair is decidedly bearish, and any rally that could come of this candle will more than likely be looked at as a chance to sell again by the trading community. Because of this, we are waiting for a bounce – and then selling.

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