USDJPY 15.01.2012 Outlook

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The USDJPY has been on a bull run before and after ABE won. Speculators have been betting on a weak yen as ABE’s main agenda was to weaken the Yen to revive Japan’s economy. Well we are all familiar with the adage..”What goes up, must come down”

I do see some weakness to the price as it hit the 88.80 resistance. If the price test the high’s of the year at around 89.66, I would sell the USDJPY and target the 86.75. A close above 89.66 would invalidate my sell view.