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USD/JPY forecast for the week of December 7, 2015, Technical Analysis
Updated: Dec 5, 2015, 06:16 GMT+00:00
The USD/JPY pair went back and forth during the course the week, eventually forming a rather neutral looking candle. We have been stuck in a fairly tight
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The USD/JPY pair went back and forth during the course the week, eventually forming a rather neutral looking candle. We have been stuck in a fairly tight range lately, and we didn’t break out of this week either. With this, we do believe in the uptrend now, but at this point in time don’t have a signal to start buying. We certainly wouldn’t sell though, as we believe the 120 level should essentially be the floor in this market. Eventually, will break above the 125 handle, and then go much higher.
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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