USD/JPY Forecast February 1, 2013, Technical Analysis

The USD/JPY pair rose during the session on Thursday as the Yen continues to weaken against almost everything its used to buy. The pair has broken out, and the 90 handle should now continue to offer support going forward. The pair should continue to be a “buy on the dips” market. The pair should continue much higher, and most people are thinking that a print of 95 before the end of the year as the Bank of Japan continues to fight Yen appreciation. As far as selling is concerned, we have no scenario where we do so.


Written by FX Empire