USD/JPY Forecast November 29, 2016, Technical Analysis

The USD/JPY pair initially fell on Monday but found enough buyers near the 111 area to turn things around and form a bit of a hammer. A break above the top of the hammer is a bullish sign, but quite frankly this is a market that is far too overbought for me to be excited about anymore. I want to see pullbacks to give us opportunity to pick up significant value, and we just of not have had it yet. I certainly will be selling this market, I think it’s only a matter of time before any pullback find value hunters.