By FX Empire.com
The USD/JPY pair had yet another bullish week as the Bank of Japan and its bond buyback program continues to pump Yen into the marketplace. The recent action has been the start of a trend change, and this move could go on for quite some time as a result. The 80 level still is our “line in the sand” for being bullish, and we are now 3 and a half handles above that level. The 85 level above continues to be resistance, but we feel it gives way sooner or later. We are long already, and willing to add on pullbacks as long as we stay above 80.
USD/JPY Forecast for the Week of March 19, 2012, Technical Analysis
Originally posted here
