USD/JPY Forecast July 25, 2016, Technical Analysis

The USD/JPY pair initially tried to rally during the course of the session on Friday, but stalled in the middle of the day. At this point in time, looks as if the 105 level will be tested for support, and if we can get a supportive candle or a bounce from there would be a nice buying opportunity. If we broke down below the 104 level, then we will drive down to the 103 level. At this point though, I do believe that this market does continue to go higher but may have to grind sideways in the meantime.