USD/JPY Forecast December 12, 2016, Technical Analysis

The USD/JPY pair broke out to the upside during the day, slicing through the 115 handle. This is an impulsive candle, so I think we could continue to go higher, but a pullback from there could be thought of as a bit of value, which we desperately need in a market that has been overextended. I think this point in time we could have plenty of support near the 112.50 level, and then the 110-level underneath that. I have absolutely no interest whatsoever in selling this pair as we have seen such a massive shift in momentum. - 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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