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USD/ JPY Forecast May 3, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 03 May 2016 05:44 UTC
The USD/JPY pair rallied during the day on Monday, but turned right back around to form a bit of an exhaustive candle. That being the case, looks as if the US dollar will continue to fall against the Japanese yen, as it is falling against most other currencies. With that being the case, the market should then reach down towards the 105 handle, as it is the next logical and large, round, psychologically significant number. Rallies will be sold off, as will breakdowns going forward as it seems that the sellers are most certainly in control.

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