USD/JPY Forecast August 29, 2016, Technical Analysis

The USD/JPY pair initially fell during the course of the day on Friday, but bounced off of the 100 level yet again. By doing so, we ended up forming a very bullish looking candle in a think we are going to see some continued momentum. I am a buyer on short-term pullbacks, but I also recognize a getting above the 102.50 level will probably take a significant amount of momentum. Once we get above there, the market could go much higher, but at this point in time I recognize that it will be choppy to say the least.

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