USD/JPY Forecast September 3, 2015, Technical Analysis

The USD/JPY pair fell during the course of the day on Wednesday, but found enough support at the 120 level to keep the market afloat. Ultimately, if we can break above the top of the hammer for the session on Wednesday we are buyers. We believe that the 122 level will be targeted. We have no interest in selling this market, but also recognize that the jobs number tomorrow will be highly influential when it comes to this marketplace. With this, we remain bullish but cautious going forward as the pair is so highly sensitive to that particular announcement.