USD/JPY Forecast September 5, 2016, Technical Analysis

The US dollar initially fell against the Japanese yen but then turn right back around to form a fairly strong green candle. What’s most impressive about the candle is that we broke above the top of the shooting star from the Thursday session, showing that there is real strength in this move. Because of this, I am going to wait until we get pullbacks in a concert buying on signs of support, and aim for the 105 handle, and then possibly the 107.50 level after that. I have no interest in selling this pair at this moment in time.

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