USD/JPY Forecast August 31, 2017, Technical Analysis

USD/JPY daily chart, August 31, 2017

The US dollar exploded to the upside on Tuesday against the Japanese yen, and then continued that bullish pressure on Wednesday. We are now clear the 110 handle, and it looks a very likely to continue to see buyers jump back into this market. Ultimately, this is a market that should have plenty of buyers, due to the overreaction to the North Korean missile launch. Pay attention to stock markets around the world, if they continue to go higher, that should help here as the Japanese yen is considered to be a safety currency.

Written by FX Empire