The USD/JPY pair bounced off of the support level below, breaking the top of the hammer from the Monday session on Tuesday. Because of this, we believe
The USD/JPY pair bounced off of the support level below, breaking the top of the hammer from the Monday session on Tuesday. Because of this, we believe that this market is ready to go higher, and as we are bullish, we have no concerns whatsoever about buying. Keep in mind that there is an interest-rate announcement today, and more importantly a statement coming out of the Federal Reserve, but ultimately we believe that the longer-term trend is always going to be to the upside and we are still targeting the 110 level.
USD/JPY Forecast October 29, 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.
