USD/JPY Forecast January 6, 2017, Technical Analysis

The USD/JPY pair fell significantly during the day on Thursday, reaching towards the 115 handle. That level should be support, as it was once resistance. Ultimately, we are in a nice uptrend and should see support all the way down to the 111.50 level. Any signs of a bounce or a supportive candle is reason enough to go long as far as I can see. The Japanese yen continues to be sold off against most other currencies around the world, and therefore feel it’s only matter of time before we continue to the upside.