USD/JPY Forecast November 10, 2016, Technical Analysis

The USD/JPY pair initially collapsed during the day on Wednesday in reaction to the surprise presidential election, but as you can see ended up turning around in forming a massive hammer. We are now where we started essentially, and as a result it looks very likely that we will continue to grind towards the upside, perhaps reaching towards the 107 handle. With this, I am a buyer of short-term pullbacks and believe that we will eventually gain quite a bit to the upside in this market. I have no interest in selling due to the reaction.

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