The USD/JPY pair tried to rally during the course of the session on Thursday, but as you can see struggled. By the time the day ended we ended up forming
The USD/JPY pair tried to rally during the course of the session on Thursday, but as you can see struggled. By the time the day ended we ended up forming a neutral candle, so therefore we feel that the market is probably going to pull back a little bit in order to build up enough momentum to break out to the upside. We still believe that the 125 level is massively resistive, so it is going to take a significant amount of strength finally get above there. Nonetheless, we have no interest whatsoever in selling this market.
USD/JPY Forecast August 14, 2015, Technical Analysis
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.
