The USD/JPY pair broke higher during the course of the day on Wednesday, breaking the top of the shooting star from Tuesday. With this, it appears that
The USD/JPY pair broke higher during the course of the day on Wednesday, breaking the top of the shooting star from Tuesday. With this, it appears that the market wants to go higher, but at this point in time we would be a bit hesitant to start buying now, because we see quite a bit of resistance all the way from the 124 level to the 125 level. We buy pullbacks, and we would love to buy a break out above the aforementioned 125 handle, but in the meantime it’s probably going to be best to sit on the sidelines.
USD/JPY Forecast July 30, 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.
