USD/JPY Forecast October 14, 2015, Technical Analysis

The USD/JPY pair initially fell during the course of the day on Tuesday, but found enough support below to form a small hammer. With this, it appears of the market is ready to continue going sideways overall, so short-term traders can continue to buy this market every time it dips, but ultimately we are talking day traders at best. This is a market that simply has nowhere to be at the moment, so if you are trading for more than about 30 pips, you need to look elsewhere as this pair shows no signs of momentum.