The USD/JPY pair had a volatile week, but more importantly than that we ended up forming a bit of support. If we can break above the top of the candle, we
The USD/JPY pair had a volatile week, but more importantly than that we ended up forming a bit of support. If we can break above the top of the candle, we should continue to go much higher. I believe that the massive rally that we have seen recently will continue given enough time, so having said that I don’t have any interest in selling. Given enough time, I believe that the market reaches to the 125 level. However, we are a bit overextended in general, so it might be choppy going forward. Certainly, we won’t have the type of impulsivity that we had seen previously.
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.
