The USD/JPY pair had another positive day on Friday, as traders decided to take on massive amounts of risk for the weekend. This was led by the belief
The USD/JPY pair had another positive day on Friday, as traders decided to take on massive amounts of risk for the weekend. This was led by the belief that the G20 would produce some kind of solution to the EU debt crisis over the weekend. Added to that, the Bank of Japan is actively working against the appreciation of the Yen, and this pair was ready to rise. The consolidation area bordered by 76 and 77.50 as well is holding, and the market did in fact pull back later in the session. This leads us to believe the scalper’s market should continue in the near term.
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.
