The USD/JPY pair initially fell during the course of the week but turned around to form a little bit of a hammer. The 105 level above is massively
The USD/JPY pair initially fell during the course of the week but turned around to form a little bit of a hammer. The 105 level above is massively resistive, but I think we are going to eventually build up enough momentum to break out. Once we do, I think we go to the 107 level, and then much higher than that. I believe that pullbacks continue to offer buying opportunities as they will be looked at as potential value while we build up a bit of a base in this marketplace.
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.
