By FX Empire.com
The USD/JPY pair initially rose during the week as the pair continues to grind around the consolidation area. The pair is central bank protected, (The Bank of Japan will intervene if this pair falls too much.) and as a result this market will continue to be almost impossible to trade from a long-term perspective. The 80 level continues to be an area where we need to see a close above in order to buy and hold. Until then, long-term trades are almost impossible.
USD/JPY Forecast for the Week of January 30, 2012, Technical Analysis
Originally posted here
