USD/JPY Forecast December 5, 2016, Technical Analysis

The USD/JPY pair fell slightly during the Friday session after the jobs number came out at roughly expected figures. However, there seems to be less inflationary pressure than anticipated, and that of course will bring back some of the expectations for future rate hikes. Nonetheless, this is a market that is extremely overbought, so a pullback is healthy. I need to see some type of significant pullback in order to start taking advantage of an obvious uptrend again. I would love to see this market pullback all the way to the 110 handle but may not get my wish.

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