The USD/JPY is currently testing the 80-81.50 area, which has been support several times over the last year or so. This pair was directly intervened by 6 central banks recently, so selling is very risky. If we get supportive action above the 80.50 area, this pair could be a longer-term buy. A break below that area will certainly get the attention of the CB’s.
Written by ForexMansion.com