USD/JPY Forecast September 6, 2017, Technical Analysis

USD/JPY daily chart, September 06, 2017

The US dollar fell significantly against the Japanese yen during the session on Tuesday, showing weakness in the greenback yet again. It looks as if we may start reaching towards the 108.50 level, which is an area where I would anticipate seeing quite a bit of support. If we were to close below that level, I think that the market probably goes down to the 105 handle. However, if we see enough support in that area, I’m a buyer and I think that the market stays in consolidation. The next 24 hours will be vital.

Written by FX Empire