Sponsors

USD/JPY Forecast December 9, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 09 December 2015 07:47 UTC

The USD/JPY pair initially fell during the day on Tuesday, but bounced slightly form a bit of a hammer. Ultimately though, we are still very much in the previous consolidation area, so it’s a bit difficult to get excited about this move. We feel that the market will continue to go back and forth, so quite frankly we want to see some type of pullback in order to start buying on a “value play.” We think there is a massive amount of resistance above the 124 handle, extending all the way to the 125 level. This is why we prefer pullbacks.

USD/JPY Forecast December 9, 2015, Technical Analysis

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.

Sponsors

Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.