By FX Empire.com
The USD/JPY pair fell during most of the week, but the Friday session saw a sharp rise in the value of this market. The Non-Farm Payroll numbers came out strongly, and this pushed the pair up. The Bank of Japan is sitting just below, and as a result – we simply cannot sell this market. The buying of it is difficult as well, because the range that we are in is so tight. This is a shorter-term market at this point, and we are waiting to see if the 80 level gives way in order to buy and hold. Until then, it is difficult to be involved for more than short-term trades.
USD/JPY Forecast for the Week of February 6, 2012, Technical Analysis
Originally posted here
