USD/JPY Technical Analysis for July 1, 2011

The USD/JPY pair fell hard on Thursday, and looked ready to test the 80 level. However, it found footing before we got there, and the day’s candle is forming a hammer-like candlestick. This shows that the pair still has a lot of support in the 80 region, and as such – is a buy only pair at the moment. We like buying dips.

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