USD/JPY Forecast March 9, 2016, Technical Analysis

The USD/JPY pair fell during the day on Monday, dropping towards the 112.50 level. The market looks as if it is continuing to consolidate between the 112 level on the bottom, and the 115 level on the top. Given enough time, we will break out, but at this point in time we believe that the market will continue to bang around in this general vicinity. A supportive candle just below will be reason enough to start going long though, and at that point we are willing to go long for a small position.