USD/JPY Forecast April 8, 2013, Technical Analysis

The USD/JPY pair initially fell during the Friday session, but buyers stepped in to pick this pair back up after a week nonfarm payroll number. Within this chart, it’s obvious that we have broken out above the recent high and therefore recent resistance. Pullbacks should be used to buy this market, as it is plainly going to the 100 handle over the course of the next several days or weeks. We see aptly no reason to sell this market, only buy on dips. We expect to see the 95 handle being considered to be the floor of this market going forward.



Written by FX Empire