USD/JPY Forecast June 29, 2016, Technical Analysis

USD/JPY  rose during  Tuesday, as there was more of a “risk on” type of move in  financial markets. With this, I am expecting a correction candle in order to start selling and at this point in time, buying would be a risky choice. I do recognize that the Bank of Japan will more than likely be monitoring this market, and therefore could provide a little bit of a boost, but at this point in time it would be correct to wait for further developments of BOJ decision. To sum it up ,sentiment holds for neutral with a negative bias.