USD/JPY Forecast March 20, 2017, Technical Analysis

The USD/JPY pair fell slightly during the day on Friday, as we continue to drift a bit lower. I believe that there is massive support near the 112 handle though, so I think any downward motion will more than likely be limited. I’m looking to buy some type of hammer or supportive candle underneath to take advantage of value in the US dollar. I do not believe that this pair will break down below the 112 level at the moment, and therefore simply looking for an opportunity to take advantage of value.