USD/JPY Forecast April 21, 2017, Technical Analysis

USD/JPY daily chart, April 21, 2017

The USD/JPY pair rally during the day on Thursday, breaking above the 109 handle. Because of this, I think that the market may try to get to the 110 level, but I still believe that the market is consolidating more than anything else. Because of this, I’m not looking for anything explosive, but I must point out that most of the yen related pairs are shooting higher during the day. I will be monitoring this of course, stay tuned to FX Empire to see what I’m doing the right now I think at best this is a short-term buying opportunity.

Written by FX Empire