USD/JPY Forecast August 6, 2015, Technical Analysis
The USD/JPY pair initially fell during the course of the session on Wednesday, but found enough support below to turn things back around and slammed into the 125 handle. If we can get above this area, we feel that this market should go much higher, and with a Nonfarm Payroll Numbers coming out on Friday, that could be the catalyst. Any pullback at this point in time should be thought of as a buying opportunity as the market should continue to go higher. We believe that the market will be highly sensitive to the jobs number, so even if we don’t get that move between now and then, it should be shortly afterwards.