USD/JPY Forecast October 10, 2016, Technical Analysis

The USD/JPY pair fell during the course of the day on Friday, forming a somewhat negative candle. I believe that the market will continue to go higher though, so at this point in time I look for support in order to start buying yet again. I think that every time we fall, you have to think of it as “value” in the US dollar as the market is massively supported out the 100 level by the Bank of Japan itself. I also recognize that the 105 level above is massively resistive, so getting above there is going to take several attempts.

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