The USD/JPY pair went back and forth during the course of the day on Wednesday, slamming into the 120 level during the course of the session. With this,
The USD/JPY pair went back and forth during the course of the day on Wednesday, slamming into the 120 level during the course of the session. With this, the market looks as if it is trying to break out, but we need to get above the 120 level in order to start buying again. With this, the market should then head to the 125 level above, which of course was massively resistive previously. Ultimately, the market will be difficult to hang onto, but there has been so much in the way of destruction it’s hard to start selling now.
USD/JPY Forecast August 27, 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.
