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USD/JPY Forecast November 24, 2015, Technical Analysis

By:
Christopher Lewis
Updated: Nov 24, 2015, 05:58 UTC

The USD/JPY pair fell during the course of the session on Monday, but continues to hang about the consolidation area that we think will be the main

USD/JPY Forecast November 24, 2015, Technical Analysis

The USD/JPY pair fell during the course of the session on Monday, but continues to hang about the consolidation area that we think will be the main driving factor of this pair in the short-term. We believe that it’s only a matter time before he break out to the upside, so pullbacks that show support below should be buying opportunities. Eventually, the market should reach towards the 125 handle, and perhaps even above there, offering a longer-term “buy-and-hold” type of situation. Pullbacks should find support all the way to at least the 121 handle, if not lower than that.

 

USD/JPY Forecast November 24, 2015, Technical Analysis
USD/JPY Forecast November 24, 2015, Technical Analysis

About the Author

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.

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