By ForexMansion.com
The USD/JPY pair looks like it has found a floor – thanks to massive intervention by several central banks last week. The weekly bar from that period is a hammer, and it is the clearest signal of resolve we are likely to get in a pair anytime soon. However, the 82 level looks to hold things up, and could cause problems. After that, the pair could consolidate until 84, and then perhaps break free from that point. Because of the ECB, BoE, Fed, Bank of Canada, and BoJ – shorting this pair just simply isn’t an option at the moment.
