USD/JPY Forecast March 24, 2017, Technical Analysis

The USD/JPY pair had a choppy session on Thursday, testing the 200-exponential moving average and showing signs of volatility. If we can break above the top of the candle, the market will probably bounce. However, if we continue lower I think that the 110 level should be a significant area of support. It’s the 50% Fibonacci retracement level, and of course a large, round, psychologically significant level. Ultimately, this is a market that will show quite a bit of volatility but given enough time I do think that the buyers will return. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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