The USD/JPY pair broke down during the week, slicing through the 108.50 level. Now that we have broken down below there, I think we are going to continue
The USD/JPY pair broke down during the week, slicing through the 108.50 level. Now that we have broken down below there, I think we are going to continue to see bearish pressure in the US dollar. The next obvious target would be the 105-level underneath, and although I do expect to reach that level, I would point out that this pair tends to be very volatile. I think that most of this pullback has been due to the idea of the Federal Reserve not being able to raise interest rates, which of course has been accelerated by the hurricanes in the United States.
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.
