The USD/JPY pair broke higher during the day on Wednesday as we continue to see quite a bit of buying pressure. This was in reaction to stock markets
The USD/JPY pair broke higher during the day on Wednesday as we continue to see quite a bit of buying pressure. This was in reaction to stock markets going higher and we now are finding the market near the 112 level which should be resistive. A break above there should send this market higher, perhaps reaching towards the 115 level. However, I would not be surprised at all to see the market pull back a little bit to try to build momentum. This should start to be a choppy market again rather soon.
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.
