USD/JPY Forecast August 8, 2013, Technical Analysis

The USD/JPY pair fell during the session on Wednesday, heading towards the 96.50 handle. However, you can see that there is a significant way to go to hit the 95 handle, the area that we think is the next major support area. The Bank of Japan continues to work against the value the Yen, and as a result we think that this market will eventually bounce. Why frankly, we love the fact that this market is falling, because we should see a significant strengthening of the buyers below current levels, especially at the aforementioned 95 handle.



Written by FX Empire