The USD/JPY has had another slightly bullish day today. It currently finds itself grinding up towards the 82 handle which was once support for this pair. Because of this – resistance should be found here. However, there are no less than 5 central banks that have been involved in bidding this pair up recently. Because of this, shorting this pair is almost impossible. A long in this pair would have to be of the longer-term variety, since there are several resistance areas immediately above.
Written by ForexMansion.com