USD/JPY Forecast April 16, 2013, Technical Analysis

The USD/JPY pair fell hard during the session on Monday, as the Yen was bought up against most other currencies. However, as you can see we did get a little bit of a bounce towards the end of the day, signifying that perhaps buyers stepped in at about 95.50 or so. This is a “buy only” pair anyway, so the thought of selling and that really enter our minds. Going forward, we think that any signs of support are an invitation to start buying again, and as a result that is exactly what we will do.



Written by FX Empire