USD/JPY Forecast Nov. 25th, 2011, Technical Analysis

USD/JPY fell during the Thanksgiving session as traders continue to buy the Yen against all other major currencies. The pair has been intervened in a couple of times recently, and we think that it is probably going to happen again, but not in this area. The pair is decidedly bearish, but the move down will be very slow at this point as the easy pips from the intervention are already been collected. Selling on rallies is a viable strategy in this pair, and buying at a much lower price such as 75.50 is possible as well – knowing that the BoJ will step back into the markets if the pair falls too far.

USD/JPY Forecast Nov. 25th, 2011, Technical Analysis USD/JPY Forecast Nov. 25th, 2011, Technical Analysis

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