Wednesday, March 30, 2016

USD/JPY Might Start Rising Again

Yesterday USD/JPY fell with around 180 pips which is a considerable drop, but today I think that the pair is about to resume moving to the upside.

At this point I expect it to start climbing towards 112.80 – 113.00. Also in case the current candlestick on the day time frame forms a hammer at or above the Bollinger Bands middle line I think we will see a further climb towards 114.00 – 114.50.

It is also possible that correction will be even deeper and the pair will rise even higher, but for now it is too early to say whether that will happen.