USD/JPY Forecast April 4, 2017, Technical Analysis

The USD/JPY pair continues to be volatile, as we have tested the 200-day moving average yet again on Monday. This is a market that looks as if it wants to go back towards the 110 level, but with all the moving headlines right now, we could turn around just as quick. This is probably better left alone currently, but I do think that there’s a significant amount of support at the 110 area just waiting to happen. Today has been very negative for equities in general, so that of course has a negative effect on this market.