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
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.
