The US dollar rallied against the Japanese yen at the open on Thursday but continues to find significant resistance just above. Because of this, I think
The US dollar rallied against the Japanese yen at the open on Thursday but continues to find significant resistance just above. Because of this, I think that a pullback is very possible. This would be a continuation of the overall downtrend, but a break above the 112 level would be very bullish. Because of this, pay attention to this market goes next, it should lead the way. I think if we break above the 112 level, the market will more than likely try to get to the 115 level above. A breakdown from here is simply going to reach towards the 110 level.
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.
