USD/JPY Forecast December 9, 2016, Technical Analysis

The USD/JPY pair fell at the open on Thursday but found enough support just above the 112.50 level to turn things around and form a nice-looking hammer. Nonetheless, I am a bit reticent to start going long at this point because I have no interest in buying a market that is overbought. We need to either grind sideways and build up enough momentum to continue the move higher, or we need a pullback significantly in order to offer value. Until I see one of those 2 things happen I will be on the sidelines but certainly would not consider selling regardless what happens. - 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. bears no responsibility for any trading losses you might incur as a result of using any data within the