The USD/JPY pair fell during the course of the session on Tuesday, breaking below the 120 level at one point. However, we would anticipate the buyers should come back into this marketplace, so if we are going to place a trade at all, we are going to start buying. We need to see some type of supportive candle in order to start going long though, so at this point in time we are simply sitting on the sidelines. If we do get a bounce, we would anticipate the market heading to the 122 handle.
USD/JPY Forecast September 2, 2015, Technical Analysis