USD/JPY Technical Analysis for July 29, 2011

The USD/JPY pair fell again on Thursday, as the markets still fear the results of the debt crisis in the US. The lack of progress is hampering the ability of the Dollar to gain against the Yen as the safe haven trade is still in vogue. The signal that we got yesterday in the form of a hammer was never triggered, and as such – we are stuck in neutral at the moment.

Written by FX Empire