USD/JPY Forecast July 24, 2013, Technical Analysis

The USD/JPY pair tried to break through the 100 handle during the session on Tuesday, but as you can see struggle and fell flat. Resulting shooting star suggests that the market is going to go lower, something that we quite frankly welcome. This is because it gives is the possibility of buying this pair at much lower levels. We believe that the 95 handle should be supportive, and we would even be surprised that the market fell that far. We are looking for supportive candles in order to start buying, but at the moment, we are simply on the sidelines.



Written by FX Empire