The US dollar initially went sideways during the day on Tuesday, but then shot much higher. The market is testing the 110 level as I write this, and there is a gap there that could cause issues. Now that we have seen this gap essentially filled, I would be a bit cautious about getting long of a market that is most certainly overbought. I think given enough time, we should pull back as it will take very little to spook the market going forward. Alternately, if we break the 110.25 handle, then I think the market continues to grind its way towards the 111 handle.
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USD/JPY Forecast September 13, 2017, Technical Analysis
The US dollar initially went sideways during the day on Tuesday, but then shot much higher. The market is testing the 110 level as I write this, and there
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About the Author
Christopher LewisSenior Analyst
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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