USD/JPY Forecast July 15, 2016, Technical Analysis

The USD/JPY pair broke above the 105 level, an area that has been resistive in the past. While we did pullback later in the day though, the market will certainly find quite a bit of support just below and therefore I feel that we are going to go higher given enough time. It will be a grind, and not necessarily a straight shot higher, but I do believe at this point in time that the USD/JPY pair has not only bottomed for the time being, but will continue to go higher over the longer term.