USD/JPY Forecast August 7, 2015, Technical Analysis

The USD/JPY pair broke back and forth during the course of the session on Thursday, testing the 125 handle. With this, we believe that the market is simply sitting still and waiting for the Nonfarm Payroll Numbers coming out during the day today. This of course is a very influential economic announcement when it comes to this particular pair, so we feel that pullbacks at this point in time should be buying opportunities, and most certainly a break above the 125 level will be as well. We have absolutely no interest whatsoever in selling this pair currently.