The USD/JPY pair initially tried to rally during the course of the week but found more than enough resistance at the 110 level to turn things back around
The USD/JPY pair initially tried to rally during the course of the week but found more than enough resistance at the 110 level to turn things back around and form a bit of a shooting star. Because of this, it seems as if the market is going to continue to show quite a bit of negativity. However, this is probably a market that’s going to be better off traded on short-term charts more than anything else, as there seems to be a massive amount of resistance between the 110 and 111 area.
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.
