USD/JPY Forecast July 6, 2015, Technical Analysis

The USD/JPY pair fell slightly during the course of the day on Friday, as we await the results of the Greek referendum. Quite frankly though, we still believe that the market has plenty of support below and as a result we are looking for opportunities to go long. We think that the 121 level below is massively supportive, and that the 120 level is essentially the “floor” in this market. We would love to see some type of hammer or a move above the top of the range for Friday in order to start going long yet again. Regardless, we have no interest in selling.