By FX Empire.com

USD/JPY fell on Tuesday, as traders sold the USD against most currencies. The main reason is that nothing bad came out of Europe for once. The truth is this pair is very heavily supported just below these levels, so it isn’t possible to short it. In fact, we like the idea of buying, and aiming for a small gain – perhaps about 40 pips or so. The area has held as support, and will continue to do so until it proves otherwise! A close below 76 gets us out of this kind of trade.


About the FX Empire:

Readers of FX Empire have made clear it’s their first stop for daily and weekly news and analysis. The FX Empire proudly delivers technical analyses, fundamental analyses, Forex news, broker reviews and more; keeping our readers the best informed in the industry.

Check out the latest Brokers Reviews by FX Empire: xForex Reviews, 4XP Reviews, AC Markets Reviews.

Get your Forex Bonus here!