The US dollar initially fell during the course of the week against the Japanese yen that the 100 level continues to offer quite a bit of support. By doing
The US dollar initially fell during the course of the week against the Japanese yen that the 100 level continues to offer quite a bit of support. By doing so, we ended up offering the market a hammer by the end of the week. That of course is a bullish sign in a break above the top the hammer could send buyers back into the marketplace and aiming for the 104 level. There will be a bit of resistance of the 102.50 level, but at this point I’m not willing to test 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.
