USD/JPY Forecast February 15, 2013, Technical Analysis

The USD/JPY pair went back and forth during the session on Thursday to finally close the session slightly lower. However, it appears that the range is tightening up and that this pair could be going sideways for the mean time. This market certainly has broken out, and we believe that the 90 handle is the “floor” in the market presently. Because of this, we look at all pullbacks as possible buying opportunities in will do so if we get some type of supportive candle. We believe that the 95 level will be targeted in the short term, and as such are willing to hold onto any new longs until we get that level.



Written by FX Empire