USD/JPY Forecast January 23, 2017, Technical Analysis

The USD/JPY pair tried to rally, but the Friday markets all the 115 level to be a bit resistive. If we can break above the top of the shooting star from Thursday, the market then should go much higher. Because of this, the market should then reach towards the 118.50 level to the upside, which has been resistance in the past. Given enough time, I think we will not only do that, but reach towards the 120 handle. Pullbacks of this point in time should continue to be value that traders take advantage of.

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