With a trading of 76.69 to 76.87 for the last 12 hours into the day and especially during Asian time, one would question how one can prosper from this currency pair? The answer may that you need to be patient. The FX Market is wary of Japanese officials’ concern about the JPY’s rapid strength and how it is not reflective of the country’s economics but traders expect the chance of intervention would rise if USD/JPY revisits record low of 75.31 and or EUR/JPY falls to around 95.00. With that we think that for the rest of the day it may just trade between 76.50 to 77.11.
