USD/JPY forecast for the week of January 23, 2017, Technical Analysis
The USD/JPY pair had a volatile week, but more importantly than that we ended up forming a bit of support. If we can break above the top of the candle, we should continue to go much higher. I believe that the massive rally that we have seen recently will continue
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The USD/JPY pair had a volatile week, but more importantly than that we ended up forming a bit of support. If we can break above the top of the candle, we should continue to go much higher. I believe that the massive rally that we have seen recently will continue given enough time, so having said that I don’t have any interest in selling. Given enough time, I believe that the market reaches to the 125 level. However, we are a bit overextended in general, so it might be choppy going forward. Certainly, we won’t have the type of impulsivity that we had seen previously.
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