The USD/JPY pair initially fell on Monday but found enough buyers near the 111 area to turn things around and form a bit of a hammer. A break above the
The USD/JPY pair initially fell on Monday but found enough buyers near the 111 area to turn things around and form a bit of a hammer. A break above the top of the hammer is a bullish sign, but quite frankly this is a market that is far too overbought for me to be excited about anymore. I want to see pullbacks to give us opportunity to pick up significant value, and we just of not have had it yet. I certainly will be selling this market, I think it’s only a matter of time before any pullback find value hunters.
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.
