USD/JPY Forecast October 20, 2016, Technical Analysis

The USD/JPY pair fell during the course of the day on Wednesday, as we continue to go back and forth overall. The 103 level seems to be supportive in general, so it’s likely that sooner or later the buyers continue to enter somewhere near there. With this, it’s likely that the market will continue to be very volatile, but sooner or later we should see the buyers push and get their way as we reach towards the 105 handle. I have no interest in selling, as there should be plenty of support based upon historical reactions.