By FX Empire.com

The USD/JPY pair fell hard for the week as the downward pressure continues. The Bank of Japan continues to lift this pair as the interventions over the recent past has keep a bit of a floor in this pair. However, the area that the BoJ seems to be interested in the 75 level as a possible area to get involved at. The 80 level above is a massive resistance area, so as a long-term trade, we don’t like trading the USD/JPY until we can clear the 80 mark on a daily close.

USD/JPY Forecast for the Week of January 2, 2012, Technical Analysis

USD/JPY Forecast for the Week of January 2, 2012, Technical Analysis

Originally posted here