The USD/JPY pair initially fell during the course of the day on Wednesday, but turned back around to form a positive candle. We actually pierced the 121
The USD/JPY pair initially fell during the course of the day on Wednesday, but turned back around to form a positive candle. We actually pierced the 121 .50 level, and as a result we are buyers if we can break above the top of the range for the session. Pullback should have more than enough support just below, and as a result we believe that the market cannot be sold and will go higher regardless of what happens as there’s so much in the way of bullish pressure underneath. Ultimately, we believe that this market reaches to the 125 handle.
USD/JPY Forecast November 5, 2015, Technical Analysis
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.
