The USD/JPY pair rose during the course of the session on Friday as we continue to see strength in this pair. Keep in mind that the weekly candle is a
The USD/JPY pair rose during the course of the session on Friday as we continue to see strength in this pair. Keep in mind that the weekly candle is a massive hammer, and as a result we can only buy going forward. Any pullback that show signs of support should be a buying opportunity, and we believe that eventually this market will head back to the 125 handle. With this, we are looking for short-term supportive candles in order to take advantage of value in the US dollar. We have no interest whatsoever in selling.
USD/JPY Forecast August 31, 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.
