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
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.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
