USD/JPY Next Support Level / MBCFX Technical Analysis Team 01/31/2013


USD/JPY Next Support Level / MBCFX Technical Analysis Team 01/31/2013






We are still waiting further decline for the US. Dollar, especially after the U.S central bank has claimed to continue buying bonds.
 
Also, the postponement of the unlimited quantitative easing program (QE3) until the end of the year 2013

Therefore, it is expected that the investors will averse trading the U.S. dollar in order to hedge against inflation.

So we expect that the USD/JPY will decline due to this negative economic news for the dollar.

Where, it is expected to resume trading at the 87-85 levels, after forming the recent tops.

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