USD/JPY Forecast April 6, 2017, Technical Analysis

USD/JPY daily chart, April 06, 2017

The USD/JPY pair rallied on Wednesday, but continues to find downward pressure above. Ultimately, I believe that the market continues to reach towards the 112 level, but it may be choppy between here and there. Because of this, expect a lot of choppy trading, but I think we are still very consolidated, with 112 being the resistance in the 110 level being the support. I believe that this currency pair will more than likely stay within this range over the next several sessions. A breakdown below the 110 level should send this market looking for the 108 level.

Written by FX Empire