USD/JPY Forecast December 10, 2012, Technical Analysis

The USD/JPY pair went back and forth during the session on Friday as the US jobs numbers came out better than expected. This is typical reaction out of this currency pair, as it tends to bounce around a lot on these days, and as a result the candle that formed does not surprise us. However, we are still very bullish of this pair as we think the Bank of Japan will continue to print Yen going forward as the opposition leader Mr. Abe suggests he will press them to do after his election on December 16. If we can get above the 84 handle, we not only buying this pair, but we buy and hold it as well. Selling is not an option.

Written by FX Empire