USD/JPY Technical Analysis October 25, 2011

The USD/JPY pair fell again on Monday, as the Dollar got hit against all major currencies. However, the Bank of Japan has been very vocal over the last 24 hours about “speculative” moves in the Yen, and that they are watching the markets closely. The pair is approaching the lows, so one has to think that the Bank of Japan could get involved soon. We cannot sell this pair at the moment because of this. The buying of this pair could be done – but we would stress that position sizes should be small at best.

Written by FX Empire