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.
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.
