USD/JPY Forecast August 26, 2016, Technical Analysis

The USD/JPY pair initially fell during the course of the day on Thursday, but turned right back around to form a bit of a hammer. Because of the 100 level below, I believe that it’s only a matter of time before we see bounces from time to time. I think that short-term pullbacks will offer short-term buying opportunities. The Bank of Japan will more than likely be involved in below the 100 level one way or another, so I believe that we will eventually see buyers take over. However, you may have to be very patient waiting on a larger move.