The USD/JPY pair rose during the session on Thursday, breaking the top of the two previous hammers on the daily chart. For us, this is a bullish sign and we believe that the market is about to try to make it towards the 100 handle. With that being said, we don’t sell this pair anyways because of the Bank of Japan and it stands, so any pullback at this point time is simply going to be a buying opportunity. Expect resistance at 100, but that should eventually be overcome by the bullish crowd.
Written by FX Empire