USD/JPY Forecast May 6, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 May 2016 06:27 UTC
The USD/JPY pair went back and forth during the course of the day on Thursday, showing that we saw quite a bit of volatility. If we can break higher, the 108 level will be tested. I think we could go above there and reach towards the 110 level as well, but it will be a grind higher, and not a quick move. At this point in time, the 105 level seems to be the “floor” in this market. This is a very volatile currency pair when it comes to the Nonfarm Payroll numbers, so caution is certainly advised.

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