USD/JPY fell on Monday as traders continue to look for safe havens. However, the Bank of Japan has been very supportive of this pair lately, and one has to think that it is only a matter of time before we see some kind of intervention if we get below the 76 handle. The market cannot be sold until after we get this intervention that so many are expecting, as it gives us a much higher level to short from. The market can be bought, but you are going to have to be very patient as it is moving at a standstill these days.
Written by FX Empire