The USD/JPY fell after first rising during the Friday session to form a hammer just above the all-important 77 handle. Because of this, we are getting
The USD/JPY fell after first rising during the Friday session to form a hammer just above the all-important 77 handle. Because of this, we are getting more and more interested in perhaps going long this pair. The world is buying USD, and the Bank of Japan is fairly active in fighting the ascension of its currency. Because of this, we expect this pair to continue to rise, albeit in a fairly tight and grinding manner. 79-80 is massive resistance.
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.
