USD/JPY Forecast February 11, 2013, Technical Analysis

The USD/JPY pair fell during the session on Friday, but did bounce towards the end of the day at the 92.50 level. However, the weekly candle is a shooting star, and this of course suggests weakness. With that being the case, we feel that a pullback is all but inevitable now as this pair has not had a negative candle on the weekly chart for the last 14 weeks in a row. Because of this, we feel that the 90 handle should be watched very carefully as it is a massive support level amount. We are willing to buy supportive candles, but we need to see some type of pullback first in order to get involved.



Written by FX Empire