USD/JPY Forecast October 18, 2016, Technical Analysis

The USD/JPY pair went back and forth during the course of the day on Monday, as we continue to try to break out to the upside, but the 105 level above is massively resistive. Because of this, I suspect that we will have several pullbacks in order to build up enough momentum to go higher. I don’t have any interest in selling, I feel that this market will eventually find buyers, especially near the 103 level that has been rather supportive as of late. With this, I feel it’s a “buy on the dips” type of situation. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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