USD/JPY Forecast June 23, 2016, Technical Analysis

The USD/JPY pair fell during the day on Wednesday, testing the 105 level for resistance. That being the case, the market looks as if it is trying to continue to consolidate between the 103 level on the bottom and the 105 level on the top. Makes quite a bit of sense though, as we await what is without a doubt going to be a very market moving event coming out of the United Kingdom as they vote on whether or not they are going to be involved in the European Union anymore.