USD/JPY Forecast March 14, 2017, Technical Analysis

The USD/JPY pair went back and forth on Monday, showing signs of hesitation just below the 115 handle. On Friday, we formed a shooting star which is a negative sign, but if we were to break above the top of that candle, it would be a very bullish sign. Alternately, if we pull back I think that the 50-day exponential moving average, pictured in red on the chart, will be massively supportive and therefore I have no interest in selling, although it does look like we will more than likely find weakness.

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