USD/JPY Forecast December 15, 2016, Technical Analysis

The US dollar did very little during the day against the Japanese yen as we awaited Federal Reserve interest rate statement. Ultimately, this is a market that every tally pullback there should be buyers below, and as a result I think that simply waiting for the opportunity to pick up value is about the only way to trade this market. There is more than enough reason to think that the US dollar will continue to gain, especially against the Japanese yen in order to get involved in the market. The Bank of Japan on the other hand is light years away from raising interest rates.