The USD/JPY pair had a slightly positive week, but at the end of the day it looks like we are simply trying to build up enough momentum to break out above
The USD/JPY pair had a slightly positive week, but at the end of the day it looks like we are simply trying to build up enough momentum to break out above the 125 level. If we can get above the 125 level, this market continues to go much higher, perhaps heading to the 130 level. With this, pullbacks should be well supported, because there is a nice uptrend line just below as well. We believe that the 120 handle is essentially the “floor” in this market going forward.
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.
