USD/JPY Forecast March 21, 2017, Technical Analysis

The USD/JPY pair did almost nothing during the day on Monday, as we should see quite a bit of support just below. I believe that the 112 level will be very important, and if we can see above there we should continue to find buyers. If we can break above the 113 handle, we could go ahead and start reaching towards the 114 level again. Nonetheless, this will be a very choppy market, as we try to figure out what’s going on with Federal Reserve and how many interest rate hikes there will be for the rest of the year.