The USD/JPY pair broke higher during the day on Wednesday as we continue to see quite a bit of buying pressure. This was in reaction to stock markets going higher and we now are finding the market near the 112 level which should be resistive. A break above there should send this market higher, perhaps reaching towards the 115 level. However, I would not be surprised at all to see the market pull back a little bit to try to build momentum. This should start to be a choppy market again rather soon.
Written by FX Empire