The USD/JPY pair initially broke out to the upside during the session on Friday, but as you can see fell to form a shooting star. With that, it appears
The USD/JPY pair initially broke out to the upside during the session on Friday, but as you can see fell to form a shooting star. With that, it appears that the market is going to test the 107 level, and possibly even lower levels than that. We are looking for supportive candle in order to start buying, and have absolutely no interest in shorting this market. In fact, we are buyers of support all the way down to the 105 level, which of course was the site of the original breakout that got us up here in the first place.
USD/JPY Forecast October 13, 2014, Technical Analysis
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.
