USD/JPY Forecast March 25, 2013, Technical Analysis

The USD/JPY pair fell during the Friday session, as we close below the 95 handle. However, the support level that extends all the way down to roughly 94.50, and as a result we still find this market to be a buy. Going forward, one cannot deny that the Bank of Japan will be involved from time to time, and although a majority of the move has probably already happened, we certainly can’t sell this market. Besides, we see plenty of support in this general vicinity and extending all the way down to the 91 handle for the short term. With that being the case, we are buying supportive candles.



Written by FX Empire