By FXEmpire.com
USD/JPY fell hard for the week as the economic outlook continues to dim globally. The 78 handle begins the start of a massive support band all the way to the 75 handle, and as a result a bounce from here is certainly possible. Also, there is the real threat of Bank of Japan intervention at these low levels, so we can’t go short at this point. The buying of this pair is the only thing we can do, but we need to see a supportive candle first in order to do so.
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Originally posted here
