The USD/JPY rose during the session on Thursday, breaking above the 98 handle. However, we have not broken clearly above the 99 level that we want to see in order to go long, so we are still on the sidelines. However, we believe in the long-term validity of this pair going higher, so when that break above 99 happens, we will be going long without any issues at all. As far as shorting is concerned, we will simply look at any time this market falls as a potential buying opportunity, and you look for supportive candles and support levels in order to get long.
Written by FX Empire