USD/JPY Forecast September 9, 2016, Technical Analysis

The USD/JPY pair initially fell during the day on Thursday but turn right back around to form a fairly bullish candle. That being the case, the market looks as if it is trying to rise from here, and a break above the top of the candle would be reason enough to go long until we reach towards the 104 level. Ultimately though, if we break down below the bottom of the hammer from the Wednesday session, we could very well find yourselves reaching towards the 100 level. I do believe that the 100 level is essentially the bottom of this market, so don’t really have any interest in selling, I would just simply look for value at lower levels and we do fall.

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