USD/JPY Forecast March 14, 2016, Technical Analysis

The USD/JPY pair did almost nothing during the course of the session on Friday as we continue to consolidate overall. With this, the market is probably going to simply sit in this area, so we don’t have any real interest in trying to place a trade at this point. However, if we break above the 115 level, we feel that the market could go much higher, probably reaching the 118.50 level given enough time. As far selling is concerned, we don’t really have any interest in going to the moment, because we are right in the middle of the previous consolidation area that has been so reliable.