USD/JPY Forecast May 8, 2015, Technical Analysis

The USD/JPY pair initially fell during the session on Thursday, but found enough support below to turn things back around and form a hammer. Does this, the market looks as if it is ready to continue going higher but we have nonfarm payroll numbers coming out during the session on Friday, which of course can cause quite a bit of volatility. With this, we are bullish but we recognize that pullbacks may be needed in order to create value that you can buy. We have no interest in selling this market anytime soon.

 

USD/JPY Forecast May 8, 2015, Technical Analysis