The USD/JPY pair rallied a bit during the day on Tuesday as we continue to see support near the 112.500 level. If we can break above the top of the range
The USD/JPY pair rallied a bit during the day on Tuesday as we continue to see support near the 112.500 level. If we can break above the top of the range I think that we will test the 115 level again for resistance. If we can break above back, then we can reach the highs. I believe short-term pullbacks continue to be buying opportunities, and thus I have no interest in selling. We bounced off the 38.2% Fibonacci retracement level, and I think that shows that we are going to continue to go higher over the longer term.
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.
