USD/JPY Forecast August 24, 2016, Technical Analysis

The USD/JPY pair struggled a bit during the course of the day but did find enough support at the 100 level to turn things back around and form a strong hammer. The hammer of course is a bullish sign, and I think at this point time if we can break above the top of that hammer it is a buying opportunity. I do recognize of the is a lot of noise above though, so this is a short-term opportunity at best in my opinion. This of course could be helped by the fact that the volumes are low at this time of year.