The USD/JPY pair went back and forth during the week, as we continue to see quite a bit of volatility. This is a market that is overbought at the moment
The USD/JPY pair went back and forth during the week, as we continue to see quite a bit of volatility. This is a market that is overbought at the moment though, so quite frankly I want to see this market pullback in order to start going long again. Even if we broke above the top of the candle at that point I would be very hesitant to start buying, simply because the recent 14% gain is a bit much, even for this pair which tends to be a quick mover.
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.
