The USD/JPY pair rallied on Friday, but found a bit of resistance at the 50-day exponential moving average. Nonetheless, it looks as if we are trying to
The USD/JPY pair rallied on Friday, but found a bit of resistance at the 50-day exponential moving average. Nonetheless, it looks as if we are trying to build up enough momentum to break above the 112 handle, and if we do I think the market will continue to grind its way towards the 115 handle. Pullbacks from here will more than likely be supported, but I would think that the one thing you can count on is probably going to be volatility regardless of what happens. If we break above the 112.50 level, I would be adding to my position to the upside.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
