USD/JPY Forecast March 18, 2016, Technical Analysis

The USD/JPY pair fell significantly during the course of the session on Thursday, as we continue to see US dollar weakness due to the fact that the Federal Reserve is now suggested that they will only raise interest rates twice during the year, as opposed to 4 times. With this, it is likely that the US dollar will continue to soften, but there is a massive support level in this general vicinity, so we aren’t necessarily comfortable selling here. We recognize though that if the market continues to fall, is going to target the 110 level.