The USD/JPY pair initially tried to rally during the course of the session on Wednesday, but turn right back around, crashing towards the 100 level. I do
The USD/JPY pair initially tried to rally during the course of the session on Wednesday, but turn right back around, crashing towards the 100 level. I do believe that the 100 level will more than likely attract the intention of the Bank of Japan, and as a result I believe that they will get involved if we break down below the region. Ultimately, this is a market that I believe that will show quite a bit of tenacity in that region, so I’m going to be very cautious and wait until I get a supportive candle that they can get involved in.
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.
