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USD/JPY Forecast May 16, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Sunday, 15 May 2016 09:14 UTC
The USD/JPY pair initially tried to rally but then turn right back around to form a slightly negative candle. By doing so, looks as if we are going to continue to bounce around in this general vicinity as there seems to be a bit of support at the 108 handle. If we can break down below there, we could get down to the 106 handle. On the other hand, if we break above the 110 level, we could very well find ourselves reaching towards the 112 handle. The one thing that we can count on is volatility.

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