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USD/JPY Forecast September 12, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Sep 12, 2017, 03:46 UTC

The US dollar gapped higher against the Japanese yen at the open on Monday, as fears involving North Korea abated a bit over the weekend. This being the

USD/JPY weekly chart, September 12, 2017

The US dollar gapped higher against the Japanese yen at the open on Monday, as fears involving North Korea abated a bit over the weekend. This being the case, we rallied towards the 109 handle. I think there is only a certain amount of ground the dollar will make up against the yen, so I’m looking for some type of exhaustive candle to turn things around and start selling the market off. Once it does, I believe that we will go below to look and fill the gap at the 108 handle. We could get a rally for a couple of sessions, so I need to be convinced on a 4-hour candle or perhaps even a daily candle.

USD/JPY Video 12.9.17

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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