The USD/JPY pair fell during the course of the day on Monday, testing the 108.50 support area. We think that there is support all the way down to the 108
The USD/JPY pair fell during the course of the day on Monday, testing the 108.50 support area. We think that there is support all the way down to the 108 handle, so we have no interest whatsoever in selling this market. We believe that buying is the only thing you can do, based upon consolidation or supportive candles if we see them. With that, the market looks as if it’s trying to grind sideways and build up enough momentum to break out and above the 110 level. We have absolutely no interest in selling.
USD/JPY Forecast October 7, 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.
