USD/JPY Forecast August 10, 2016, Technical Analysis

The USD/JPY pair initially tried to rally during the day but then turned right back around form a bit of a slightly negative candle. However, I believe that there is more than enough support below to continue to support the market, and the Bank of Japan will eventually try to do more to support the US dollar against the Yen, as quantitative easing and helicopter money policy will more than likely be the route going forward for the Japanese. I believe that 100 is essentially the “line in the sand” that they are watching.