USD/JPY Forecast October 3, 2016, Technical Analysis

The USD/JPY pair went back and forth during the course of the session on Friday, forming a slightly positive candle. Ultimately, I believe that this market will continue to go higher, but I recognize that there is a lot of resistance above. If we pullback from here, I think there is plenty of support below at the 100 level, and that of course is a massive “floor” in this market. Given enough time, I think we do turn things back around and form a positive trend, but you also have to keep in line that’s mainly being driven by the Bank of Japan.

Economic Calendar