USD/JPY Forecast October 12, 2016, Technical Analysis

The USD/JPY pair initially tried to rally during the course of the day on Tuesday, but turned back around and form a bit of a shooting star. Ultimately I believe that there is plenty of support below though, so any fall at this point in time will more than likely be a buying opportunity. I would need to see some type of supportive candle in order to go long though, or perhaps a break above the top of the shooting star but I recognize that there is a lot of noise all the way to the 105 handle above.

Economic Calendar