USD/JPY Forecast November 7, 2016, Technical Analysis

The USD/JPY pair had a very neutral candle form for the Friday session after the jobs number came out. It now looks as if the 103 level is going to continue to offer support, so if we can break above the top of the hammer from the Thursday session, I believe that the USD/JPY pair will reach towards the 105 level yet again. I recognize that there is a lot of noise just above, so it will be choppy. As far as breaking down below the bottom of the hammer from the Thursday session, that would technically be a sell signal that I see a lot of support just below that would keep me from doing that.

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