USD/JPY Forecast November 11, 2016, Technical Analysis

The USD/JPY pair initially fell during the day on Thursday, but found the 105 level to be supportive enough to turn things around and cause a significant bounce. We are now looking at trying to break out to the upside again. I believe that buyers will continue to jump into this market on pullbacks, as we should continue to see plenty of opportunities to go long. I have no interest whatsoever in selling, and all the noise below should act as pretty significant support going forward and I still believe that longer-term we continue to grind away.

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