USD/JPY Forecast August 22, 2013, Technical Analysis

The USD/JPY pair rose during the session on Wednesday, after the Federal Reserve released the minutes from the last meeting that suggested that perhaps some of the board members are behind Ben Bernanke he and his tapering timeline. That of course is very dollar positive, and while the Bank of Japan continues to work against the value the yen, it makes sense that this pair continues to go higher. On a daily close above the 98.50 level, we are willing to start buying this pair as we believe in the long-term validity of the uptrend.

 

USD/JPY Forecast August 22, 2013, Technical Analysis

Written by FX Empire