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.
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.
