The USD/JPY pair fell hard during the session on Tuesday, as the market slammed into the 96 handle again. However, the hammer that had formed a couple of days ago on Friday suggests that there is a significant amount of support at the 95 handle. Below there, things get very cloudy in the Bank of Japan certainly get involved sooner or later. It is because of that that we are ready to start buying on the slightest hint of support in this general vicinity as the market should continue to go higher over the longer term.
Written by FX Empire