USD/JPY Forecast February 4, 2015, Technical Analysis

The USD/JPY pair broke higher during the course of the session on Tuesday, but as you can see we still remain tight out in consolidation. Because of that, the market looks as if it’s ready to simply grind sideways and not really make much of a statement here. With that being the case, we are on the sidelines and basically just monitoring this pair. However, we believe that the market has an upside bias, and will eventually hit the 120 level, the 121 level, and then the 102 level before extending in continuing the longer-term uptrend.

 

USD/JPY Forecast February 4, 2015, Technical Analysis