USD/JPY had a hard fall at the beginning of the Wednesday session, but then bounced just as hard as the market rose again. This formed a hammer on the daily chart, and this could be the start of a bounce. The central banks are watching and intervened just below, and as such – this could be a decent place to attempt a buy position if we can break the highs of Wednesday. Of course, it is counter trend, and as such – the action can be quite choppy even if it does go your way on a long.
About FXEmpire.com:
The FX Empire presents a complete overview of Forex brokers, up-to-date Forex news, technical analyses and fundamental analyses empowering our readers to make the best possible financial decisions for themselves. Our analyses teams and our news desk bring you the latest Forex analyses and news throughout the day, everyday.
Read the latest Forex broker reviews,technical analyses, fundamental analyses, and news at FXEmpire.com.
