By ForexMansion.com
The USD/JPY is finding resistance at the 81 level and has started to drift slowly lower. However, with the various central banks recently intervening, this pair will find it difficult to fall too far as long as more intervention is possible. It appears that we may find ourselves getting ready to consolidate between the 81 and 77 marks, as there isn’t any real desire by traders to buy this pair and no desire by central banks to let it fall.
To get fully all-out bullish, a close above 84 is necessary. To get bearish, there really is no real long-term mark yet as the central banks haven’t made their floor price known yet.
