The USD/JPY pair fell rather sharply during the session on Thursday as we broke down below the 80 handle yet again. The 79.30 level did act as support however, and as such we got a little bit of a bounce at the end of the session. It looks like we’re trying to form some type of consolidation between 79.25 and 80.50. If we find some type of supportive candle, we could believe in trading short-term charts for small bounces here and there. Because of this, we think that this pair is essentially going nowhere in the short-term.
Written by FX Empire