USD/JPY Forecast July 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 05 July 2016 06:08 UTC
The USD/JPY pair did very little during the course of the day on Monday, and as a result I am simply standing on the sidelines when it comes to the Japanese yen. On top of that, we have the Bank of Japan that could possibly intervene below, especially if we break down below the 100 level. With this, I believe that this market should continue to be one that can be bought, but will take quite a bit of time to go any discernible distance from this current level. Longer-term investors might be interested, but at this point in time I do not see the rush.

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