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USD/JPY and AUD/USD Forecast July 28, 2017

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The USD/JPY pair initially tried to rally on Thursday but ran into a bit of trouble just below the 115 handle. This is the top of the recent consolidation range, so I don’t see this as overly surprising. In fact, I think that a lot of people knew this and more than likely decided to take profits. We rolled over during the day as Wall Street got rather wild, and of course this send this pair tumbling as it is somewhat risk sensitive. However, by the end of the day the futures markets in the stock markets in America turned around completely, wiping out almost all the losses in the Dow Jones 30. This shows that there is still an underlying appetite for risk, so we should see this pair pick up a little bit from here. I don’t expect miracles, rather I expect a continuation of the overall sideways action that we have seen.for more analysis: http://www.dailyforex.com

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