USD/JPY Forecast August 19, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 19 August 2016 06:42 UTC
The USD/JPY pair went back and forth during the course of the session on Thursday, forming a somewhat exhaustive candle. If we can break down below the 99.50 level, I feel at that point in time we should continue to go lower. However, I believe that the Bank of Japan is going to continue to try to support this market, and as a result I think that it’s only matter time before the buyers get involved. However, we can only follow what the market does, and as a result we have to keep an open mind.

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