USD/JPY Forecast April 21, 2014, Technical Analysis

The USD/JPY pair did very little during the session on Friday, as liquidity would have been a little bit lower than usual due to the Good Friday holiday. That being said, it appears that the market still is ready to go higher, but a pullback could be coming in the short term. We believe that the 103 level will be targeted, and that the 105 level will be targeted be on there. We believe that the 101.25 level is in fact the “floor” of this market at this moment time as it has proven to be so supportive.