USD/JPY Forecast May 31, 2016, Technical Analysis

The USD/JPY pair initially tried to rally during the course of the day on Monday, but found the area near the 111.50 level to be a bit too resistive. The resulting shooting star candle suggests that we are going to pull back and perhaps trying to find support below, most notably near the 110 level. This is a market that should continue to go higher given enough time though, so we look at any pullback as potential support. We also like the idea of buying a break above the 112 level as it would show a significant amount of momentum on a move higher. - 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.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. bears no responsibility for any trading losses you might incur as a result of using any data within the