The USD/JPY pair fell during the course of the week, but still has more than enough support below to continue to push this market higher. Given enough
The USD/JPY pair fell during the course of the week, but still has more than enough support below to continue to push this market higher. Given enough time, the market will more than likely reach towards the 125 handle, and perhaps even break above there. Once we do, it’s a longer-term “buy-and-hold” type of situation. Nonetheless, we have no interest whatsoever in selling this market, and as a result we remain “buy only.” We think that the 120 level below is essentially the “floor” in this market, and as a result have no qualms about going long.
USD/JPY forecast for the week of November 16, 2015, 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.
