The USD/JPY pair rose slightly during the course of the day on Wednesday, testing the 107.50 handle. Because of this, it appears that more bullish
The USD/JPY pair rose slightly during the course of the day on Wednesday, testing the 107.50 handle. Because of this, it appears that more bullish pressure is appearing in the marketplace, and that the buyers are more than likely going to pick it up from here. With that, we still believe that buying is the only way to go in this marketplace, and we also anticipate that the market will in fact move to the 110 level given enough time. Pullbacks continue to offer buying opportunities as they will be looked at as perceived value, thereby making selling impossible.
USD/JPY Forecast October 23, 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.
