The USDJPY is in an interesting situation. Depending on the NFP number on Friday traders will once again speculate the possibility of further QE. If QE expectations diminish due to the report the pair could drift higher back towards the .80 level. If further QE looks likely the USDJPY could head towards the lows of the year. What is interesting about the pair is that retail investors are long the pair at about a 11-1 ratio. A push lower could squeeze lower very quickly towards possible intervention territory.
Sup 78.15/00
Res 78.70.
Keane Plan....On the sidelines with the pair at the moment
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