USD/JPY Forecast January 22, 2016, Technical Analysis

The USD/JPY pair fell initially on Thursday, but turned back around to form a somewhat supportive candle. However, we still see a significant amount of resistance at the 118.50 level above, so we are not ready to start buying quite yet. We believe the short-term sellers may step back into this market, and as a result short-term traders may be looking to sell. A break above the 119 level would have a longer-term effect on the buyers, perhaps sending the pair back towards the 123.50 level above. At this point in time, we think that there will be a lot of volatility regardless. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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