The USD/JPY pair fell initially during the session on Thursday, but found enough support just above the 105 handle to turn things back around and form a
The USD/JPY pair fell initially during the session on Thursday, but found enough support just above the 105 handle to turn things back around and form a hammer. Because of this, we believe that this market should continue to go higher given enough time, as the 105 level has offered support today’s in a row. Because of that, we are bullish and we do believe that the uptrend will continue to go higher. A break of the top the hammer is reason enough to start buying but we recognize that you may have to be able to deal with the volatility.
USD/JPY Forecast October 17, 2014, 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.
