The USD/JPY pair rallied again during the week, breaking above the 115.00 level on Friday. The market looks as if it is ready to try to continue going
The USD/JPY pair rallied again during the week, breaking above the 115.00 level on Friday. The market looks as if it is ready to try to continue going higher, but quite frankly it is overextended by just about any measure of the market. With this, I believe that a pullback is coming, and quite frankly I think we need one desperately. Once we get a nice pullback, I’m willing to buy on signs of support but obviously that has not happened quite yet. I also have no interest whatsoever in selling this pair as I believe the trend has changed.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
