USD/JPY Forecast October 19, 2016, Technical Analysis

The USD/JPY pair went back and forth during the course of the session on Tuesday, forming a fairly neutral candle. Ultimately, there is a significant amount of support just below, so I don’t have any interest in shorting this market and I believe that eventually when we pullback there will be short-term pullbacks that we can take advantage of in the name of value. A break above the 105 level would be very bullish sign and more of a “buy-and-hold” type of situation going forward. Until then, short-term pullbacks continue to be the best trading opportunities. - 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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