USD/JPY Forecast May 25, 2015, Technical Analysis

The USD/JPY pair broke higher during the course of the session on Friday, as we are testing the 121.50 level. Because of this, it appears that the market will try to break out, and if we can get a daily close above the 121.50 level, we are buyers. We believe the pullbacks should offer plenty of support near the 120.75 level, so really at this point in time we have no intentions whatsoever of selling this particular currency pair. Ultimately, we believe that this pair goes to the 125 level and beyond.