Start the week of January 17, 2022 with our Forex forecast focusing on major currency pairs here.
The US dollar plummeted against the Japanese yen but did recover slightly during the Friday session. At this point, it looks as if there is a lot of selling pressure, so I think if we do rally at this point, a significant amount of resistance may cause some issues.
That being said, the ¥112.50 level underneath should be a significant support level. To the upside, keep an eye on ¥115, because it is so important.The euro had a wild week, as it initially fell towards the 1.1250 level before turning right back around. We got an explosive move to the upside as we sliced through the 1.14 handle, and then went racing all the way to the 1.15 level above. The 1.
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