USD/JPY Forecast December 14, 2016, Technical Analysis

USD/JPY daily chart, December 14, 2016

The USD/JPY pair rallied slightly during the day on Tuesday, as the 115 level offered a little bit of support. This is a market that has been extraordinarily bullish as of late, so I think it’s only a matter of time before buyers get involved. I have no interest in selling, and pullbacks represent value in the US dollar the people will more than likely one to take advantage of. Given enough time, I believe that the market should then reach towards the 120 handle, but there will be pullbacks from time to time, which I plan on adding to my position during.

Written by FX Empire