The USD/JPY pair went back and forth during the course of the session on Friday, forming a slightly positive candle. Ultimately, I believe that this
The USD/JPY pair went back and forth during the course of the session on Friday, forming a slightly positive candle. Ultimately, I believe that this market will continue to go higher, but I recognize that there is a lot of resistance above. If we pullback from here, I think there is plenty of support below at the 100 level, and that of course is a massive “floor” in this market. Given enough time, I think we do turn things back around and form a positive trend, but you also have to keep in line that’s mainly being driven by the Bank of Japan.
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.
