USD/JPY rose during the Wednesday session as the market continues to try to reach above the 78 handle. The pair is currently being supported by the Bank of Japan, and the Dollar is one of the most desired currencies around the world currently. The level is an area that has resisted one attempt after another, and the resistance goes all the way up to the 80 level that has kept the market lower for some time now. The selling of this pair continues to be the preferred route for us, and we are looking for some kind of rally to fade currently.
USD/JPY Forecast December 22, 2011, Technical Analysis
Originally posted here
