The USD/JPY pair broke down during the course of the week initially, but turned back around as the Bank of Japan suggested that more quantitative easing
The USD/JPY pair broke down during the course of the week initially, but turned back around as the Bank of Japan suggested that more quantitative easing was coming. With that being the case, it’s very likely that we continue to go higher this week, and now that we’ve cleared the 118.50 level, it is very likely that we could go as high as 123 over the next several candles. We have no interest whatsoever in shorting this market now, and believe that we will continue higher sooner or later.
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.
