By FX Empire.com
USD/JPY had a bullish week as the Dollar picked up a lot of steam over the last couple of sessions. Also, the Bank of Japan was jawboning the value of the Yen again, and even went so far as to admit they have been clandestinely intervening in the currency pair. This explains the 76.50 level being so supportive over the recent past, and the market got long this pair as a result. The 78.50 level still looks to be resistive, and 80 is the ultimate resistance level. With this tight of a market, we aren’t interested in trading this pair at all.
USD/JPY Forecast for the Week of February 13, 2012, Technical Analysis
Originally posted here
