USD/JPY had another fairly quiet week this previous week as traders simply continue to play ping pong in a very tight range. The Bank of Japan is waiting below near the 75 handle, and the 80 level is waiting above. Until one of these levels gives way, taking a long-term trade will be almost impossible as the market is for scalpers at the moment.
USD/JPY Forecast for the Week of December 19, 2011
Originally posted here
