USD/JPY Forecast October 31, 2016, Technical Analysis

The USD/JPY pair went back and forth during the course of the session on Friday, showing a fairly neutral candle. The 105 level offers quite a bit of support, but at this point in time I think we may have to go back there to find buyers. On the other hand, we could break above the top of the range during the course of the session on Friday, and that of course would be a nice buying opportunity to reach towards the 107 level which is the next major resistance barrier above.

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