USD/JPY Forecast December 6, 2016, Technical Analysis

The US dollar bounced off the 112.50 level during the day on Monday against the Japanese yen. I believe that the market is going to continue to go higher given enough time, but pullbacks might be necessary to continue the massive momentum to the upside. The 110 level below is massively supportive, and with that being the case I think that the market is essentially a “buy on the dips” type of scenario. I believe that the longer-term downtrend has completely broken down, and thus it’s likely that the buyers will continue to assert control over the longer term. - 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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