USD/JPY Forecast October 13, 2016, Technical Analysis

The USD/JPY pair broke higher during the course of the day on Wednesday, testing the 105 region. That’s an area that should continue to offer quite a bit of resistance though, so I think at this point in time a pullback is going to be very likely on short-term charts. If we can break above the 105 level, we will more than likely continue and more of a “buy-and-hold” type of manner. I have no interest in selling, I believe that there is a massive amount of support at the 103 level below.