USD/JPY Forecast August 28, 2013, Technical Analysis

The USD/JPY pair fell hard during the session on Tuesday, slamming through the radiator handle, and parking right at the 97 handle. However, we think that there is a significant amount of support below, so with that being the case, we are not willing to sell this pair. Quite frankly, we think this will end up being a buying opportunity sooner or later, and we simply need to see some type of supportive candle. On that supportive candle we would not hesitate to buy this market, but until we get that we will simply be on the sidelines.



Written by FX Empire