USD/JPY Forecast March 15, 2016, Technical Analysis

The USD/JPY pair fell slightly during the course of the day on Monday, as we continue to bounce around in the consolidation area that been so important in this market. With that being the case, it looks like we will probably drop slightly, but quite frankly we are not looking for a longer-term move. We do not think that will happen in this market until we break above the 115 handle. If we break above there, the market should continue to go higher from there, perhaps reaching towards the 117.50 level. We have massive support below at the 112 level.