USD/JPY Forecast July 29, 2016, Technical Analysis

The USD/JPY pair went back and forth during the course of the session on Thursday, as we continue to hang about the 105 level. With this, the market looks as it could continue to find a lot of interest in this area, and with that being the case it will likely be very volatile. I do think that there is quite a bit of support below, and with that being the case I think that sooner or later we will get a bit of a bounce. I have no interest in selling this pair, because I do recognize that the Bank of Japan will get involved if they have to.

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