The USD/JPY pair initially fell during the week, but turned back around to break well above the 118.50 level. This is a bullish candle, but beyond that we
The USD/JPY pair initially fell during the week, but turned back around to break well above the 118.50 level. This is a bullish candle, but beyond that we broke above the top of the shooting star that formed the previous week. With that being the case, the market looks as if it is picking of bullish pressure and that we should continue to go higher. On a break above the top of the weekly candle, we are buyers but we also recognize that there could be a lot of noise above to keep this market fairly volatile.
USD/JPY forecast for the week of January 25, 2016, Technical Analysis
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.
