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USD/JPY Forecast September 8, 2017, Technical Analysis
Published: Sep 8, 2017, 03:47 GMT+00:00
The US dollar fell against the Japanese yen during the session on Thursday, testing the 108.50 handle. This is an interesting level for me, as it is the
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The US dollar fell against the Japanese yen during the session on Thursday, testing the 108.50 handle. This is an interesting level for me, as it is the bottom of longer-term consolidation. If we close below this level on a daily candle, I believe that the market goes down to the next major support barrier, the 105-level underneath. Alternately, if the market bounces from here, we will probably go back towards the 109.50 level. Given enough time, the market should make its intentions known, as we are at a very important level on the longer-term charts.
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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