The US dollar rallied against the Japanese yen, breaking above the 112 level during the week. However, we did pull back a little bit so it looks as if we
The US dollar rallied against the Japanese yen, breaking above the 112 level during the week. However, we did pull back a little bit so it looks as if we are going to continue to grind higher. That might be the key word here, grind. Eventually, the market should then go to the 115 handle above, which is a psychological target. I believe that the 110 level underneath will continue to offer support. Ultimately, this is a market that I do like, but I recognize that there is a lot of volatility ahead.
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.
