USD/JPY Forecast December 16, 2016, Technical Analysis

The USD/JPY pair rallied again on Thursday as we continue to see US dollar strength in general. The 115 level should now be massively supportive, and essentially the “floor” in this market. A pullback should find plenty of bullish pressure underneath, as the interest-rate hike and more importantly, the substantial possibility of more, should continue to let the US dollar against the Bank of Japan, which is very unlikely to raise interest rates anytime soon. Because of this, I look at pullbacks as a very good opportunity to take advantage of perceived “value”.

Eracash.com - 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.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com