USD/JPY Forecast August 2, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 02 August 2016 06:45 UTC
The USD/JPY pair did nothing during the day on Monday, as we continue to hover just above the 102 level. With this being the case I think that the market will continue to try to find support below, but we do not have any real opportunity to trade this market as it looks very choppy and quite frankly essentially the “dead money” type of trade that we try to avoid. The 100 level below is massively supportive, and with that being the case I feel that the markets will eventually give us an opportunity to start buying.

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