USD/JPY Forecast April 9, 2014, Technical Analysis

The USD/JPY pair fell rather hard during the session on Tuesday, slicing through the 103 level, and falling all the way down to the 101.50 handle. Because of that, it appears that the market has sliced through quite a bit a different minor support levels. The 101 level has been rather supportive recently, and as a result it would not surprise us at all to see some type of supportive candle in that general vicinity. That supportive candle would be a buying opportunity in our opinion, and we would not hesitate to take it once that opportunity arises.