USD/JPY Forecast October 4, 2016, Technical Analysis

The USD/JPY pair has fallen during the course of the session initially on Monday, but then turn right back around to form a bit of a hammer. The hammer of course is a bullish sign and I do believe that the Bank of Japan will continue to offer support to this pair over the longer term. I believe that the 100 level below is essentially the “floor” in this market, and that we will more than likely try to grind back to the 103 handle over the longer term. I have no interest in selling at all.

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