USD/JPY Forecast February 29, 2016, Technical Analysis

The USD/JPY pair rose during the course of the session on Friday, testing the 114 area. It looks as if we are going to try to get to the 115 level, and if we can break above there that would be a very bullish sign. At that point in time, we would not hesitate to start buying the USD/JPY pair, but we are also willing to sell exhaustive candles in that general vicinity, so we will be making a decision here and the next couple of sessions. Ultimately, we just need to show patience.