USD/JPY Forecast September 2, 2016, Technical Analysis

The USD/JPY pair initially tried to rally during the course of the session on Thursday, but turn right back around to form a shooting star. Because of this, if we break down below the bottom of the shooting star we could go lower looking for support. Keep in mind that this market is highly sensitive to the jobs number that comes out during the day today. The better the number, typically the better this pair does. With this, I think of pullback will more than likely offer value that we can take advantage of though, because the Bank of Japan is behind the scenes pulling strings.

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