USD/JPY Forecast Nov. 11th, 2011, Technical Analysis

USD/JPY had a slightly down session on Thursday as traders continue to grind this pair lower. The post-intervention reaction is the standard one, as the market will try the patience of the Bank of Japan as they always do. The bank intervened on its own, so there is a real chance that we will revisit the low levels on this chart again. Because of this, we are sellers, but understand that the movement might be very, very slow.

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