USD/JPY Forecast April 1, 2013, Technical Analysis

The USD/JPY pair did almost nothing during Friday as the liquidity would’ve been low due to be Good Friday holiday. However, we are sitting just above the 94 handle, an area that we consider to be significant in its supportive action, and as a result we think that buying this pair is more than likely going to be possible in the near-term. In fact, if we can get above the 95 handle, we think this is not only a nice buying signal on the daily chart, but on the weekly chart as well. As for selling, we have absolutely no interest in doing so as everybody on the planet knows of the Bank of Japan is working against the value of the Yen at the moment.



Written by FX Empire