USD/JPY Forecast November 24, 2016, Technical Analysis

The USD/JPY pair rose again during the day on Wednesday as we continue to slice to the upside. This is a market that is overbought though, and as a result I’m waiting to see a pullback in order to get involved. Buying up at these high levels would be chasing the trade, and that’s probably the most dangerous way to trade the markets. I obviously would not sell this pair, but at this point in time I can’t buy it either. I’m just waiting for some type of supported pullback in order to get involved.

Eracash.com - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com