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.
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.
