The USD/JPY pair fell during the Thursday session, but bounced off of the 94 handle in order for a small hammer. We still contend that the 94 level should be supportive, and this candle of course lends a lot of credence to that theory. That being said, we believe that the 95 level could be a bit resistance, but we believe in the long-term viability of the uptrend in this pair, so we are willing to start buying on a break of the highest from the Thursday session. We also are willing to add if we can get above the 95 level.
Written by FX Empire