The USD/JPY pair had a fabulous day as the market shot straight up and past the 80 handle. However, there end of the resistance isn’t until we get over the 80.50 level, and we are just shy of that now. Because of this, we are still sitting on our hands, but more than willing to buy a daily close above the 80.50 level. As for selling, we really aren’t interested, as the Bank of Japan is working so hard against the Yen, and the Fed is still a question mark in a lot of ways currently.
Written by FX Empire