The USD/JPY rose on Thursday, reaching towards the 109.50 level. However, we turned around based upon a few random tweets from the president, as people begin to worry about budget issues in the United States. This is simple noise, we get it from time to time, and it turns around rather quickly. The real action will be after Janet Yellen speaks today from Jackson Hole, as it gives us an idea as to how the Federal Reserve is thinking about the economy. A hawkish tone will be good for the US dollar, sending this pair higher. Alternately, if she is dovish, that sends this pair lower.
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USD/JPY Forecast August 25, 2017, Technical Analysis
The USD/JPY rose on Thursday, reaching towards the 109.50 level. However, we turned around based upon a few random tweets from the president, as people
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About the Author
Christopher LewisSenior Analyst
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.
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