USD/JPY Forecast August 3, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 03 August 2016 08:32 UTC
The USD/JPY pair initially tried to rally during the course of the session on Tuesday, but turned around to form a very negative candle. This negative candle looks very much like a market that’s trying to reach towards the 100 level. The 100 level below should be supportive though, so I think at this point in time you need to start looking for supportive candles in order to go long. Ultimately, the market will have to worry about the Bank of Japan, which of course has quite a bit of interest in the 100 level as well.

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.


Subscribe to Newsletter

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