USDJPY – Awaiting Breakout Confirmation (Video)

After breaking back into bullish territory – above the ichimoku cloud – earlier in the week, USDJPY looks to be on a roll and could be on course to make some further gains in the coming months.

The last couple of days has seen it come off a little though, presenting an interesting test for the pair. Will we get confirmation of the initial breakout or are we headed lower again?

Senior Market Analyst Craig Erlam discusses all of today’s events impacting the pair and gives his analysis of the charts.

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.