USD/JPY Forecast Dec. 12th, 2011, Technical Analysis

USD/JPY fell during the Friday session as the Dollar got sold off. This pair is decidedly bearish, and the downside pressure seems to be continuing. The Bank of Japan intervenes every once in a while, but the pair simply fades these rallies. This pair is a “sell the rally” pair as the bearish presence is simply too strong. The 76 level is the start of intervention levels, so selling until we get that low seems to be the way to go.