By FXEmpire.com
The USD/JPY pair fell during the week, but saw a bounce from the 50% Fibonacci level on Friday to suggest that we may have perhaps seen the pullback that many traders were waiting on to get involved in the pair from the long side. The pair looks as if it still wants to test the 85 handle, and as such we think that buying is a long-term proposition, and we even think that the 85 handle will eventually give way as well. We are long-term holders of this pair, and will add on a break of 85, or even smaller additions to our core position on smaller time frames as well. If we break below the 80 handle, we would consider the pair as back in the downtrend.
USD/JPY Forecast for the Week of March 26, 2012, Technical Analysis
Originally posted here
