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USD/JPY forecast for the week of April 11, 2016, Technical Analysis
Published: Apr 9, 2016, 06:03 GMT+00:00
The USD/JPY pair broke down during the course of the week, clearing the 110 level. With this, the market looks as if we could continue to go much lower,
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The USD/JPY pair broke down during the course of the week, clearing the 110 level. With this, the market looks as if we could continue to go much lower, but at this point in time it’s likely that we could get a bit of a rally, but that rally should send sellers back into the market in order to take advantage of value in the Japanese yen. An exhaustive candle on a short-term chart could be reason enough to start selling, especially if it is just below the 110 level.
About the Author
Christopher Lewisauthor
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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