The USD/JPY pair fell during the day on Tuesday, testing the 122 region. The 122 level of course is previously supportive, so it would not be surprising
The USD/JPY pair fell during the day on Tuesday, testing the 122 region. The 122 level of course is previously supportive, so it would not be surprising at all to see this market bounce from here. We also believe that the 121 level should be supportive as well, as the market is most certainly in an uptrend. We believe that a move to the 125 level should be coming next, and as a result we are very bullish. Once we break above 125, the market should continue to go much higher. We have no interest whatsoever in selling this market.
USD/JPY Forecast November 25, 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.
