USD/JPY Forecast July 7, 2015, Technical Analysis

The USD/JPY pair gapped lower at the open on Monday, but then turned back around to fill that gap. Ultimately, this market looks like it’s ready to continue going higher, and as a result we think that a break above the top of the range for Monday is reason enough to start buying as the market should then head towards the 125 handle. We have no interest in selling this market, we believe that it goes higher over the longer term. However, keep in mind that volatility will continue in this market due to the Greek crisis.