The USD/JPY pair rose during the session broke through the 80.50 level showing strength for the US dollar. On the weekly chart, we closed above the 80 handle for the first time in several months, in this shows that we are starting to build significant momentum to the upside in this currency pair. Because of this, we are buying a break of the top of the Friday session, and do not have plans to sell at this point time. In fact, we think that if Gov. Romney and his pro-dollar policies get implemented after an election on Tuesday night, this pair could accelerate to the upside.
Written by FX Empire