USD/JPY Forecast June 8, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 08 June 2016 08:03 UTC
The USD/JPY pair initially tried to rally during the day on Tuesday but turned around form a shooting star. This of course is a negative sign, and we have recently had a bit of a meltdown in this pair. With the jobs number looking so poor, it looks very likely that this pair will continue to go lower and perhaps try to reach towards the 106 level next. A break above the top of the shooting star would be a bullish sign, but quite frankly that is a buy signal that I might be willing to ignore.

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