USD/JPY Forecast June 7, 2016, Technical Analysis

The USD/JPY pair rose during the day on Monday, bouncing off of the bottom of the massive candle to the downside that formed on Friday. That being the case, I feel that this market will probably continue to grind a little bit higher, but signs of exhaustion on short-term charts might be nice selling opportunities. After all, the jobs number was absolutely horrific on Friday, and that should continue to work against the value the us dollar, especially against the Japanese yen. In fact, this point in time I’m ignoring by signals unless of course they appear on a weekly chart.