The USD/JPY pair fell during the course of the day on Tuesday, testing the 108 level. The 108 level of course should be supportive, but we feel that there
The USD/JPY pair fell during the course of the day on Tuesday, testing the 108 level. The 108 level of course should be supportive, but we feel that there is even more support down at the 107 level. Perhaps this is simply a pullback in order to build up enough momentum to finally break out, so we are looking for some type of supportive candle below in order to start buying yet again. We do believe that this pair will eventually break out above the 110 level, thereby sending this market much, much higher.
USD/JPY Forecast October 8, 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.
