The USD/JPY pair fell during the session on Monday, showing signs of weakness yet again. However, we look at this market as one that’s essentially consolidating, and because of that we do not fear any type of significant fall. As a matter fact, we think that this market will more than likely grind sideways over the next couple weeks, so short-term range players. We believe that short-term traders are going to get involved and push this market around. We believe that the 97.50 level is the bottom, while the 99.50 level is the top.
Written by FX Empire