The USD/JPY pair fell during the session on Monday, clearly slicing through the 100 handle. However, this market does have plenty of support all the way down to the 98.50 handle, and as a result we are not quite ready to give up on the upside yet. We do not sell this pair anyway, the Bank of Japan will make sure that. That being said, we need to see some type of supportive candle in order to start buying, or we will simply sit out and wait for support to show up again in order to go long.
Written by FX Empire