USD/JPY Technical Analysis September 7, 2011

USD/JPY rose rapidly on Tuesday as traders bought the USD across the board. The central bank of Japan certainly is happy about this move, and will not stand in the way of a weakening Yen, something they have been begging for over the last couple of years. The market didn’t make a higher high, but at closing, it seems we are just a few pips from doing so. With this in mind, we only want to go long, but only if we break the highs of the Tuesday session.

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