By ForexMansion.com
The USD/JPY pair actually moved up rather slightly today – movement being something this pair hasn’t seen in a while. Because of the central banks intervening, the pair now has a floor, and trader may find that they are a little more confident to buy this pair. There were no less than 3 Federal Reserve governors hinting at an early exit to QE2 today, and that is a form of monetary tightening. However, any move by the Fed won’t be official until late in April, and this is a premature reaction at best. Looking at this chart, we are heading into resistance at the 82 mark, and the down side is too risky to get involved with because of the lurking CB’s out there.