USD/JPY Forecast June 28, 2016, Technical Analysis

USD/JPY pair had a volatile session on Monday, chopping around in a fairly tight range. At this point in time, the Bank of Japan has not officially announced that it has intervened in the currency markets, but without a doubt traders are concerned about further developments. With this being the case, I expect this particular pair to be hectic in the short-term, as we try to catch her breath after falling so rapidly during the Friday session. The 100 level below is an important in its implications, so be aware of possible intervention below that level.