USD/JPY Forecast January 19, 2017, Technical Analysis

The US dollar bounced a bit against the Japanese yen, but gave back some of the gains towards the end of the session. Given enough time, I think we get a supportive daily candle, but I don’t think this is going to be at. The 111.50 level underneath should be a massive support level, and because of this I believe it’s only matter of time before we bounce significantly. I think it’s going to take a session or so before we get that candle, but when we do I more than willing to go long in a market that looks very healthy in general.