USD/JPY Technical Analysis July 13, 2011

The USD/JPY pair fell on Tuesday as traders bought the Yen across the board. With the jitters coming out of Europe, there is a real possibility that we could see a serious down move at any moment. Because of this, traders will buy safe-haven currencies such as the Yen. We think that the pair will more than likely fall from here, but a bounce should be waited on in order to short it.

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Forex Mansion