USD/JPY Forecast March 8, 2016, Technical Analysis

The USD/JPY pair fell just a little bit during the course of the session here on Monday, but we are still very much in the way of consolidation, so having said that it is probably best to sit on the sidelines when it comes to this market. Quite frankly, the easiest trade in this market is to buy above the 115 level, as it would show a significant breakout above resistance. At this point in time, that’s essentially what we are waiting for and as a result will be hesitant to get involved at this point in time.