USD/JPY Forecast March 3, 2014, Technical Analysis

The USD/JPY pair fell during the session on Friday, but remains well within the consolidation area that we have seen for some time meaning that we don’t look at this as a move in one direction or the other, just simply a confirmation of what we’ve seen recently. We’re still looking for supportive candles in order to start buying, but do not have one at the moment in order to do so. Alternately, if we can get above the 103 level, we feel this market would head towards 105 without too many issues.

 

USD/JPY Forecast March 3, 2014, Technical Analysis