The USD/JPY pair fell hard during the course of the week, slamming into the 122 handle. This is the area that the uptrend line crosses, and as a result we
The USD/JPY pair fell hard during the course of the week, slamming into the 122 handle. This is the area that the uptrend line crosses, and as a result we believe that sooner or later the buyers are going to step back into this marketplace. Even if we broke down below the uptrend line though, we think that the red line on the chart, the 120 handle, should be massively supportive as well. Because of this, we are buyers on supportive candles and are simply looking for the opportunity to go long and reach towards the 125 handle yet again.
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.
