Sponsors

USD/JPY Forecast January 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 22 January 2016 07:50 UTC

The USD/JPY pair fell initially on Thursday, but turned back around to form a somewhat supportive candle. However, we still see a significant amount of resistance at the 118.50 level above, so we are not ready to start buying quite yet. We believe the short-term sellers may step back into this market, and as a result short-term traders may be looking to sell. A break above the 119 level would have a longer-term effect on the buyers, perhaps sending the pair back towards the 123.50 level above. At this point in time, we think that there will be a lot of volatility regardless.

USD/JPY Forecast January 22, 2016, 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.