The USD/JPY pair had a very negative week, slicing well below the 117 handle. The market is currently testing pre-significant support though, so the
The USD/JPY pair had a very negative week, slicing well below the 117 handle. The market is currently testing pre-significant support though, so the question then becomes whether or not we can actually continue the downward pressure in this type of environment. It’s likely that we will get quite a bit of volatility, so quite frankly it’s not until we get below the 160 level that we feel it’s easier to sell this market on a longer-term chart. Shorter-term traders will be attracted to this type of volatility though.
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.
