USD/JPY Forecast July 11, 2013, Technical Analysis

The USD/JPY pair fell hard during the session on Tuesday, slamming into the 100 handle. The Federal Reserve announced its recent meeting minutes, which showed that several of the members are hoping to see higher employment numbers in the United States before tapering the quantitative easing program that we have been seen for so long. However, in reality the Bank of Japan is still in hyper easing mode, so the fact that we found a little bit of support just below the 100 handle was in the big surprise. Nonetheless though, we prefer to see this market stabilize a bit before buying again.



Written by FX Empire