USD/JPY Forecast October 25, 2016, Technical Analysis

The USD/JPY pair initially fell during the day on Monday, but turned around to form a green and bullish candle. However, we have not broken out and I still think that there is a significant amount of resistance at the 105 level, meaning that the resistance is still there. I’m looking for short-term pullbacks are short-term buying opportunities unless of course we break above the aforementioned 105 level, which then should have this market looking for the 107 level beyond that. I have no interest in selling, and I believe that the 103 level is essentially acting as a “floor” at this point in time. - 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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