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Published on Oct 11, 2016
The
US dollar initially rallied during the day on Tuesday, but turned back
around to fall against the Japanese yen. With this being the case, looks
as if we will continue to see quite a bit of volatility in this
particular pair but I still believe there is more than enough support
below to turn this market back around. After all, the Bank of Japan is
still very interested in keeping this market afloat, as the Bank of
Japan is worried about the effects of an overvalued Japanese yen to the
economy. With that being the case, I think that every time we pull back,
sooner or later the buyers will get involved and therefore I’m looking
for supportive candle in order to start going long.
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