USD/JPY and AUD/USD Forex Forecast May 26, 2016
Forex Forecast – The USD/JPY pair went back and forth during the course of the day on Wednesday, as we continue to meander around the 110 level. If there is a chart that is indicative of how quiet the Forex markets are at the moment, this is the poster child. After all, we just simply continue to grind around this big figure and wait to see which direction the market uses to go. I think that if we can break above the top of the shooting star from last week, we could very well reach towards the 112 level, but a move above there is going to be difficult. At the same time, I can also say that if we break down below the bottom of the candle for Wednesday, we will more than likely reach for the 109 level. Either way, I’m not expecting much of a move over the next several sessions.
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