The USD/JPY pair fell during the bulk of the week, but found enough support towards the end to turn things back around. We actually went as low as the 111
The USD/JPY pair fell during the bulk of the week, but found enough support towards the end to turn things back around. We actually went as low as the 111 area or so, but did get a bit of a bounce. Ultimately, we do think that the market continues to go lower though, probably trying to reach the 110 level. Having said that, it’s probably going to be easier to trade this market on the short side from the daily charts, as there isn’t much in the way of room for longer-term traders to be involved in.
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.
