The USD/JPY pair did exactly what we asked to do as far as giving is a buy signal, and that was closing well above the 98.50 handle. That being the case, we are bullish of this pair and we do believe that this pair will continue to grind higher. The next stop as far as we can tell is the 100 handle, but we think that we will go much higher than that before it’s all said and done. Ultimately, we think this market will grind its way all the way up to 110 given enough time, and as a result we think a longer-term trade is just been triggered.
Written by FX Empire