By ForexMansion.com
The USD/JPY pair fell hard today, only to find buyers in the latter stages of the day. The resulting bar is a hammer, and we are closing above 83 again. This shows that there is most certainly a bid beneath the pair, and with the central banks lurking somewhere under all of that, you cannot short this pair. The Non-Farm Payroll announcement tomorrow will play havoc in this pair. A bullish number sends it higher, a bearish number will sink this pair, but probably only present a buying opportunity.
Originally posted here
