USD/JPY pair went back and forth during the course of the week, ultimately forming a neutral candle. The 105 level below offered enough support to turn things around, but the 108 level above offered resistance.

Ultimately, this is a market that seems to be a bit confused, so we are waiting to see whether or not we can break above the top of the range in order to start buying and aiming for the 110 level, or if we can break down below the 105 level and start selling.

Weekly Forecast for USD/JPY: Bearish (Negative)

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