USD/JPY Forecast September 23, 2016, Technical Analysis

The USD/JPY pair initially fell during the course of the session on Thursday, but found enough support near the 100 level to turn things back around and reach towards the 101 level. I think we will eventually break out to the upside, because quite frankly the Bank of Japan is defending this area and my estimation. That being the case, I’m a buyer, and not a seller but recognize that we will have quite a bit of volatility in choppiness to deal with this particular type of marketplace as it is an attempt to change the trend.