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.
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.
