USD/JPY Technical Analysis September 19, 2011

USD/JPY managed a slightly positive day on Friday as traders continue to respect the 76 handle as support in this pair. There are even rumors of the Bank of Japan intervening in the markets clandestinely at this level. The bottom for the time being seems set, and as a result – we buy for quick scalps the closer we get to 76. If we manage to break below that level – we would walk away from this pair altogether.

Written by FX Empire