USD/JPY Forecast November 21, 2016, Technical Analysis

The USD/JPY pair initially fell on Friday but then continued the bullish pressure that we have seen. It now looks as if we are ready to go even higher, as the surprise election of Donald Trump has a lot of people betting on the US economy. Pullbacks should continue to find plenty of support, and as a result I’m waiting to see that in order to start going long again. At this point, if we start buying it is essentially “chasing the trade”, and I can think of no other way to lose money quicker in the Forex markets than doing just that.