USD/JPY Forecast January 13, 2015, Technical Analysis

The USD/JPY pair initially tried to rally during the course of the day on Monday, but then turned back around to form a massive shooting star. Because of this, it appears that the market is ready to continue falling, but we have no interest in selling this market. After all, it is in a massive uptrend and we believe that the 115 level below is going to be extraordinarily supportive. A supportive candle at a lower level is an invitation for us to start buying again, as we believe this market will eventually break out.

 

USD/JPY Forecast January 13, 2015, Technical Analysis