The USD/JPY pair went back and forth during the course of the day on Wednesday, testing the 180 level yet again. However, we believe that the market will
The USD/JPY pair went back and forth during the course of the day on Wednesday, testing the 180 level yet again. However, we believe that the market will ultimately find bullish pressure and break above the 110 level given enough time. Because of this, we have no interest in selling whatsoever, and recognize that any move lower will simply represent value in the US dollar. We also recognize the 107 level as being massively supportive, just as the 105 level is. As far as selling is concerned, we have absolutely no interest whatsoever.
USD/JPY Forecast October 9, 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.
