The USD/JPY pair rally during the day on Friday, breaking above the 115 handle. We are starting to run into a bit of resistance, but I think the pair is about to break out, and with that being the case I believe that we will reach towards the 118.50 level. We will have pullbacks in time to time, but those should end up being buying opportunities as the market looks ready to continue the longer-term moved to the upside. With the Federal Reserve raising interest rates several times this year, that should continue to fuel this market.
Written by FX Empire