The USD/JPY pair rallied during the day on Tuesday, breaking above the 112.50 level during the day. Ultimately, this is a market that will continue to try
The USD/JPY pair rallied during the day on Tuesday, breaking above the 112.50 level during the day. Ultimately, this is a market that will continue to try to go higher, but it’s likely that we need a pullback in order to find enough momentum to continue to go higher. After all, we are overbought at this point but certainly I have no interest in selling as the market is so overly bullish. Given enough time, I’m a buyer but I need to see some type of value or at least momentum building pullback in order to get excited.
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.
