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USD/JPY forecast for the week of October 19, 2015, Technical Analysis
Updated: Oct 17, 2015, 06:46 GMT+00:00
The USD/JPY pair initially fell during the course of the week, but found enough support to turn things back around and form a nice-looking hammer. This
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The USD/JPY pair initially fell during the course of the week, but found enough support to turn things back around and form a nice-looking hammer. This hammer of course is a buying opportunity, and a break above the top of it should send this market looking for at least 121, if not much higher than that. We believe the market will eventually try to reach the 125 level, but with all of the concern and questions surrounding the Federal Reserve, expect a bumpy move going forward as confusion will reign.
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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