The USD/JPY pair initially tried to rally during the course of the session on Monday, but then turned back around to form a relatively negative candle.
The USD/JPY pair initially tried to rally during the course of the session on Monday, but then turned back around to form a relatively negative candle. Ultimately, we did break out during the session on Friday, as this market is ultimately heading towards the 125 level as far as we can see. With this, it’s only a matter time before we start buying on pullbacks, as the US dollar should strengthen due to the fact that the interest-rate hike should be coming sooner rather than later. We have no interest in selling this market at all.
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.
