The USD/JPY pair initially fell during the week, but turned back around to break well above the 118.50 level. This is a bullish candle, but beyond that we
The USD/JPY pair initially fell during the week, but turned back around to break well above the 118.50 level. This is a bullish candle, but beyond that we broke above the top of the shooting star that formed the previous week. With that being the case, the market looks as if it is picking of bullish pressure and that we should continue to go higher. On a break above the top of the weekly candle, we are buyers but we also recognize that there could be a lot of noise above to keep this market fairly volatile.
USD/JPY forecast for the week of January 25, 2016, Technical Analysis
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.
