USD/JPY Testing Late 2008 and Early 2009 Levels
As we begin the new year, there are some signs that USD/JPY could sell off.
The pair is currently testing resistance from late 2008 / early 2009 lows.
There is also a sharp channel resistance on the daily chart.
USD/JPY is also approaching 87.56, which is the 61.8% retracement level of a multi-year decline.
It is worth noting that SSI is bullish at -1.07 if only slightly.
USD/JPY Weekly
The pair is currently testing resistance from late 2008 / early 2009 lows.
USD/JPY Daily
There is also a sharp channel resistance on the daily chart.
USD/JPY is also approaching 87.56, which is the 61.8% retracement level of a multi-year decline.
It is worth noting that SSI is bullish at -1.07 if only slightly.
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Maybe so but then again i think there is strong political will atm to keep exports competitive to support the job market
If there is a tumble some heads at the BOJ will be doing likewise JMO
PS) With that said the pair is still up over 15% since start of 2012 HmmPosted 01-03-2013 at 01:28 AM by x3mtrading
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