USD/JPY Forecast December 30, 2016, Technical Analysis

USD/JPY daily chart, December 30, 2016

The USD/JPY pair fell on Thursday, reaching down to lower levels, but I feel that there is more than enough support at the 115 level below in order to keep the longer-term trend viable. In fact, I believe that there is support all the way down to the 112 level under their, so regardless of what happens I’m a buyer of this pair, the question that remains when I get the supportive candle that I can take advantage of. Longer-term, I have a target of 120 in this market, which will be a large, round, psychologically significant level that will attract a lot of attention.

Written by FX Empire