By FXEmpire.com
The USD/JPY pair had a slightly bullish week overall this past week. The pair has recently broken above several long-term bearish factors, and as a result we only buy it now. The 50% Fibonacci retracement level form the support found at 80 has held overall, and we like the look of this pair for longs now. The 85 level is resistive, but we think it will eventually give way. There is a positive swap in this pair, albeit small, but that will simply reward traders who are willing to hang on. As long as we are above the 80 level, we are buyers and adding on dips.
USD/JPY Forecast for the Week of April 2, 2012, Technical Analysis
Originally posted here
