USD/JPY Forecast April 25, 2017, Technical Analysis

The USD/JPY pair gapped higher at the open on Monday, but has spent most of the session trying to retrace that gap. Because of this, I believe that the short-term pressure may be to the downside. A supportive candle below could be a nice buying opportunity, as the market has shown a proclivity to go higher. Looking at short-term charts for signs of support or buying pressure might be the way to go. Alternately, if we break down below the bottom of the gap, that could be a very negative sign for this market.