The USD/JPY pair broke down during the week, and even managed to get below the 115 handle. However, we are starting to see a significant amount of support
The USD/JPY pair broke down during the week, and even managed to get below the 115 handle. However, we are starting to see a significant amount of support here, so I think the market is going to try to build a bit of a floor in this general vicinity. Because of this, I still prefer the upside but I think we may need to bounce around or chop around a bit before we can hang onto a position. You may be better served off of daily charts currently.
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.
