The USD/JPY pair broke down during the course of the session on Friday, extending even lower and it looks as if we are reaching towards the 105 level
The USD/JPY pair broke down during the course of the session on Friday, extending even lower and it looks as if we are reaching towards the 105 level next. Ultimately, that area could cause a little bit of support, based upon the fact that it is a large, round, psychologically significant number. Because of this, we believe that short-term rallies will be selling opportunities as well as exhaustive candles appear. A break down below the bottom of the range for the session on Friday could also be an opportunity to sell this pair as well.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
