USD/JPY Forecast December 2, 2016, Technical Analysis

The USD/JPY pair fell slightly during the Thursday session, but turned around to form a bit of a hammer. The hammer of course is a bullish sign, and because of this we could continue to go higher but quite frankly I think we need to pull back. The 112.50 level should be supportive, just as the 110 level should be. The jobs number will be greatly influential in this pair, as the better the number, typically the higher this pair goes. Nonetheless, I need to see a pullback to feel comfortable putting money to work in an overbought market.

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