USD/JPY Forecast June 28, 2016, Technical Analysis

The USD/JPY pair had a very volatile session on Monday, chopping around in a fairly tight range. At this point in time, the Bank of Japan has not officially announced that it has intervened in the currency markets, but without a doubt Forex traders are concerned about that happening. With this being the case, I expect this particular pair to be very quiet in the short-term, as we try to catch her breath after falling so rapidly during the Friday session. The 100 level below is massive in its implications, so be aware of possible intervention below that level.