USD/JPY Forecast July 23, 2015, Technical Analysis

The USD/JPY pair broke higher during the course of the session on Wednesday, breaking above the 124 level during that session. With this, the market looks as if it could continue to go higher, but it is going to be very choppy. Nonetheless, we do have a longer-term target of 125, and as a result we believe that the markets will eventually reach towards that level. In fact, we believe that this market will continue to go higher than that, but regardless it is going to be choppy and we recognize that so you will have to have the wherewithal to hang on.