USD/JPY Forecast March 22, 2013, Technical Analysis

The USD/JPY pair fell during most of the session on Thursday, breaking below the 95 handle for the last couple of hours. However, there is a significant support area all the way down to the 94.50 level, and because of this we believe that this market will more likely find support in the general vicinity of where enclosed. Going forward, we believe that the Yen will continue to be weakened by the Bank of Japan, and that trend certainly has not changed. Because of this, we are buying this market right now as we continue to go forward.



Written by FX Empire