USD/JPY Forecast July 9, 2013, Technical Analysis

The USD/JPY pair fell during the session on Monday, sitting right at the 101 handle towards the close in New York. That being said, we expect to see a little bit of a bounce here, perhaps even as low as the 100 handle, but it is obvious that the pair is ready to continue higher as far as we’re concerned. We are looking for supportive candle in order to start buying again, as we think we will head to the 105 handle relatively soon. As for selling is concerned, we will not do so as the Bank of Japan continues to work in many ways against the value the Yen.



Written by FX Empire