USD/JPY Forecast May 24, 2016, Technical Analysis

The USD/JPY pair fell during the day on Monday, as the 110 level has proven to be a bit too resistive. Because of this, it shows that we are going to struggle to get above there. However, there is quite a bit of support below at the 190 handle, so a bounce would necessarily be very surprising either. If we can break down below the 108.50 level, we would more than likely reach down to the 107 level. If we can break above the top of the shooting star from Friday, that would be a very bullish sign as well and could have us buying.