USD/JPY Forecast April 13, 2017, Technical Analysis

The USD/JPY pair did almost nothing during the day on Wednesday, as traders took a breather after the massive bearish candle that had formed on Tuesday. Because of this, it’s likely that the market will need to grind for a while until we find the next trigger to go in one direction or the other. Currently, I would have to think that the selling pressure is probably more likely than not to come back, and that should send the market looking for the 61.8% Fibonacci retracement level at the 108 handle. Ultimately, it looks as if we are trying to decide. - 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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