USD/JPY Forecast November 5, 2014, Technical Analysis

The USD/JPY pair went back and forth during the day on Tuesday as we continue to see this market show bullish pressure. With that being the case, the market should continue to go much higher, but we look at short-term pullbacks as potential entry point. We have no interest in shorting this market, we believe that the “floor” is at the 110 level. Ultimately, the market should head to the 115 level, and possibly even higher than that given enough time. Because of this, we are very bullish and will not sell under any circumstance

 

USD/JPY Forecast November 5, 2014, Technical Analysis