USD/JPY Forecast March 19, 2014, Technical Analysis

The USD/JPY pair fell during the session on Tuesday, but remains in the consolidation area that we have been in for some time. That being the case, we feel that this market should continue to go higher, but we need to find some type of supportive candle. That supportive candle would be a reason to play the recent consolidation area yet again, but ultimately we believe that the market goes higher. We think that the market will try the 103 area first, and then the 105 area. Selling is not something we have any interest in doing at the moment.

 

USD/JPY Forecast March 19, 2014, Technical Analysis