The USD/JPY pair fell during the course of the week, but found enough support below to turn things back around and form a hammer yet again. This is the
The USD/JPY pair fell during the course of the week, but found enough support below to turn things back around and form a hammer yet again. This is the second hammer in a row, and as a result it appears of the market will then head to the 110 level. With that, the 110 level will be tested and eventually broken above as we had to the 115 level. The 105 level below should be a bit of a “floor”, as the market should not go below there. If it did, things would change drastically, but at this point in time that looks very unlikely.
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.
