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Christopher Lewis
usdjpy

The USD/JPY pair initially tried to rally during the course of the session on Friday, but found the 125 level to be a bit too resistive. With that being the case, we did up falling drastically from there, as we are trying to find some type of support below in order to go long. With this, a supportive candle below will continue to be a buying opportunity as we should eventually go above the 125 handle and continue the way much higher. However, there should be a significant amount of volatility in this pair, so it will take patience in order to continue going higher. We have no interest in selling.

 

USD/JPY Forecast August 10, 2015, Technical Analysis

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