USD/JPY Forecast November 15, 2016, Technical Analysis

The USD/JPY pair broke down during the day on Monday, clearing the 107.50 level. This is an area that has caused quite a bit of resistance in the past so the fact that we broke above there is a very encouraging sign for the buyers. Given enough time, we should continue to go even higher, but I think short-term pullbacks are probably going to be needed in order to take advantage of perceived value. With this, I am “long only” and believe that the USD/JPY pair will eventually reach towards the 110 handle. - 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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