After creating a high not seen since 1998 in the USD/JPY in mid-July, the currency finished trading for the month near lows not seen since mid-June.
And as children and their parents know, it is best to use playgrounds carefully and not be reckless. A vast amount of volatility was delivered by theof July, a mark not seen since September of 1998. A low for the USD/JPY occurred this past Friday, the 29of July when the Forex pair touched approximately 132.
Technical charts remain challenging and support levels should be studied carefully for volatility as they continue to be tested. When the USD/JPY moves quickly it has the ability to take no prisoners and fly through support levels, just like it can jump past resistance ratios with relative ease sometimes. Economic and central bank policies via the Bank of Japan and U.S Federal Reserve remain unclear. Political decisions will certainly affect economic policy decisions from both central banks, and that may not be particularly good decisions for the public.The 132.
However, skeptics taking into consideration that economic clarity remains murky may believe the higher range of the USD/JPY is still worthwhile and should be speculated on, which means they may use support levels to initiate long positions and seek moves upward.
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