USD/JPY Forecast Nov. 23rd, 2011, Technical Analysis

USD/JPY rose during the session on Tuesday, only to fall again and form a shooting star at the close. The pair is decidedly bearish, and as a result, traders took the spike upwards during the session as a chance to sell the pair again. The Bank of Japan is sitting below, so long-term sell and holds are going to be very difficult. However, rallies can be sold in this pair as it simply will not stop falling. The pair could be intervened in by the BoJ again, but not likely until we get close to 75.

USD/JPY Forecast Nov. 23rd, 2011, Technical Analysis USD/JPY Forecast Nov. 23rd, 2011, Technical Analysis

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