USD/JPY Forecast July 19, 2016, Technical Analysis

The USD/JPY pair rose slightly during the day on Monday, as we continue to see this market try to reach well above the 105 level. If we can break above the top of the shooting star from the session on Friday, at that point time we should grinder way towards the 108 level. Pullbacks should find support, as the Bank of Japan has most certainly made its presence known and its displeasure of the exchange rate known as well. With this, this market should eventually go higher over the longer term, given the chance.