The USD/JPY pair went back and forth during the course of the week, essentially settling on a neutral candle. This neutral candle tells us just how
The USD/JPY pair went back and forth during the course of the week, essentially settling on a neutral candle. This neutral candle tells us just how uninspired this market is at the moment. We have been consolidating between the 100 level on the bottom, and the 105 level on the top. Ultimately, I think sooner or later we will find enough buyers to turn this market back around, especially considering that the Bank of Japan has put a bit of a “line in the sand” near the 100 handle. With this, I’m simply waiting for the right buying opportunity.
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.
