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USD/JPY Forecast September 13, 2017, Technical Analysis
Updated: Sep 13, 2017, 03:51 GMT+00:00
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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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.
USD/JPY Video 13.9.17
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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