The USD/JPY pair gapped lower as word got out that the North Koreans tested a nuclear bomb. We rallied a bit, but have fallen since then. It looks like
The USD/JPY pair gapped lower as word got out that the North Koreans tested a nuclear bomb. We rallied a bit, but have fallen since then. It looks like the market is hovering around the 109.50 level currently, but I think that they move above the 110 level would be very bullish sign. Quite typically, we see the pair fall apart when these tests happen, but eventually the market calms down. I believe that the buyers will come back, and I also believe that the gap will be filled. Because of this, it’s likely that pair continues to find a bid at lower levels.
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.
