The USD/JPY pair gapped higher at the beginning of the week, and then turned around to find support below. Ultimately, we rallied towards the 112 level,
The USD/JPY pair gapped higher at the beginning of the week, and then turned around to find support below. Ultimately, we rallied towards the 112 level, and I now think that if we can break above the 112.50 level, the market will then go looking for the 115 handle. Pay attention to the stock markets, that often will be a harbinger of what we will see in this market, but right now it looks as if the buyers are starting to make a serious statement in the USD/JPY pair.
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.
