The USD/JPY pair initially tried to rally during the course of the session’s the made-up the previous week. However, we ended up turning back around and
The USD/JPY pair initially tried to rally during the course of the session’s the made-up the previous week. However, we ended up turning back around and formed a shooting star by the time we closed. With this, it looks like the USD/JPY pair may end up being somewhat soft in the short-term, but we think there is more than enough support below to keep this market going higher. Somewhere above the 120 handle, we think that a supportive candle would be a nice buying opportunity as the market should then reach towards the 125 level.
USD/JPY forecast for the week of November 23, 2015, 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.
