USD/JPY Forecast February 20, 2013, Technical Analysis

The USD/JPY pair had a very quiet session on Tuesday as the market essentially hovered around the 93.50 level. This market looks like it’s trying to go sideways for the short term, possibly even with a downward bias, which of course would be a very good sign for people wanting to reenter the market. After all, we think the “floor” in this market is at the 90 handle, and as such we could get a pullback of couple handles. On pullbacks that show signs of support, we are willing to buy this market as we believe the long-term validity of the uptrend. In fact, we are not shy to say that we expect a 100 print sometime over the course of the next year.



Written by FX Empire