USD/JPY fell on Friday as the markets cooled for the holidays. The 78.50 level continues to keep the pressure on the pair as it simply cannot rise above that mark. The pair is being supported by the Bank of Japan, but at much higher levels. With this in mind, we prefer selling going forward, but would also like to see a rally in order to do so. At the moment, this pair is too tight to interest us in trading it.
Written by FX Empire