The USD/JPY pair fell slightly during the day on Thursday as we continue to bounce around the 113 handle. I think if we can break down below here, the market will then find significant support at the 112 level. Because of this, I am looking for a buying opportunity but presently don’t see one. I still believe longer term that this pair goes much higher, the less than overly hockey statements coming out of Federal Reserve the previous session may have caught the market a bit off guard. Nonetheless, they are raising in America, and doing nothing but quantitative easing in Japan.
Written by FX Empire