The USD/JPY pair broke higher during the course of the session on Friday, breaking the top of the hammer that informed on Thursday. With that, we should
The USD/JPY pair broke higher during the course of the session on Friday, breaking the top of the hammer that informed on Thursday. With that, we should also mention that there is a nice-looking hammer on the weekly chart based upon the 105 handle, so quite frankly this is a “buy only” market now. We believe that the market will go to the 110 level, but it could be a bit choppy on the way up there. We get above the 110 level though, we feel that the market will go into a longer-term uptrend.
USD/JPY Forecast October 20, 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.
