USD/JPY Forecast April 18, 2017, Technical Analysis

USD/JPY daily chart, April 18, 2017

The USD/JPY pair fell during the day on Monday, as we continue to see bearish pressure. We did test the 61.8% Fibonacci retracement area though, and it would not surprise me to see a little bit of a bounce from here. If we can break down below the 107.90 level, I think then we go to the 105 handle. Ultimately, this is a market that is trying to find its footing, but if there are a lot of global concerns out there geopolitically, there is going to be a significant amount of bearish pressure.

Written by FX Empire