USD/JPY Forecast November 30, 2012, Technical Analysis

The USD/JPY pair did very little during the session on Thursday as the markets go back and forth between trying to figure out whether or not the main players in Congress are close to a fiscal deal or not. Because of this, the markets have been difficult to trade on the whole, in this pair seems to have simply fallen asleep. However, the market does look very strong overall, and the fact that we are not falling suggests that the 82 handle will be a launching point for something much higher.

We see the 84 handle as a barrier that needs to come down in order to really pile on the gains from this marketplace. If that’s the case, we should do quite well over time, and see prices as high as 110 or so.


Written by FX Empire