USD/JPY Forecast April 28, 2017, Technical Analysis

The US dollar rallied against the Japanese yen at the open on Thursday but continues to find significant resistance just above. Because of this, I think that a pullback is very possible. This would be a continuation of the overall downtrend, but a break above the 112 level would be very bullish. Because of this, pay attention to this market goes next, it should lead the way. I think if we break above the 112 level, the market will more than likely try to get to the 115 level above. A breakdown from here is simply going to reach towards the 110 level.

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