The USD/JPY pair initially tried to rally during the course of the week but found more than enough resistance at the 110 level to turn things back around
The USD/JPY pair initially tried to rally during the course of the week but found more than enough resistance at the 110 level to turn things back around and form a bit of a shooting star. Because of this, it seems as if the market is going to continue to show quite a bit of negativity. However, this is probably a market that’s going to be better off traded on short-term charts more than anything else, as there seems to be a massive amount of resistance between the 110 and 111 area.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
