By FXEmpire.com
USD/JPY had a wild run on Monday, as it was both bullish and bearish at times, eventually forming a long-legged doji at the end of the session. The market wants to short this pair, but the Bank of Japan is making it obvious that the falling of this pair will no longer be tolerated. The 77 level seems to be a bit of a battleground at this point and as such makes a natural magnet for the currency pair. The pair is impossible to short safely, but a move above the highs on Monday’s session could be a good buying signal for the next 2-300 pips.
FXEmpire.com:
FX Empire is firmly dedicated to strengthening our readers’ knowledge of the minute-to-minute happenings in the Forex market. Delivering daily and weekly technical analyses, fundamental analyses and news, alongside our expert broker reviews, our readers are always in the know.
Check out the latest Brokers Reviews by FX Empire: Finotec Review, Forex4You Review.
Forex forex technical analyses, forex fundamental analyses, forex news and broker reviews can be found at FXEmpire.com.
