The USD/JPY pair went back and forth during the week, as we continue to see a lot of choppiness in this market. Janet Yellen cause quite a bit of
The USD/JPY pair went back and forth during the week, as we continue to see a lot of choppiness in this market. Janet Yellen cause quite a bit of volatility during her speech, but at the end of the week, when it up forming a relatively neutral candle. The 110 level above should be resistive, just as the 108.50 level underneath should be supportive. If we breakdown below the 108.50 level, the market should then go down to the 105 level. If we break above the 110 level, the market is very bullish, and could return to the top of the consolidation area. However, the meantime I suspect that is difficult to trade long-term charts.
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.
