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USD/JPY Forecast September 7, 2017, Technical Analysis

By:

Christopher Lewis

Updated: Sep 7, 2017, 04:11 GMT+00:00

The US dollar went sideways initially on Wednesday, and then rallied towards the 109 level. However, we are starting to see a selloff during US trading,

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Read what the experts are trading this weekExclusive analysis from FXEmpire top analysts — curated insights you won't find on the free site.

The US dollar went sideways initially on Wednesday, and then rallied towards the 109 level. However, we are starting to see a selloff during US trading, and it now looks like we are testing the bottom of the overall consolidation area again which is at the 108.50 level. A breakdown below there could send this market down to 105, but we could also find a bit of support in this area. A daily close below that level has me going short. Otherwise, I would anticipate another bounce from that area, offering a short-term buying opportunity.

USD/JPY Video 07.9.17

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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