USD/JPY Forecast August 25, 2017, Technical Analysis

USD/JPY daily chart, August 25, 2017

The USD/JPY rose on Thursday, reaching towards the 109.50 level. However, we turned around based upon a few random tweets from the president, as people begin to worry about budget issues in the United States. This is simple noise, we get it from time to time, and it turns around rather quickly. The real action will be after Janet Yellen speaks today from Jackson Hole, as it gives us an idea as to how the Federal Reserve is thinking about the economy. A hawkish tone will be good for the US dollar, sending this pair higher. Alternately, if she is dovish, that sends this pair lower.

Written by FX Empire