The USD/JPY pair initially fell during the session on Monday, slamming into the bottom of the massive wedge that we have been following. The real question is whether or not the markets will be able to contain this, or will we go higher. A break above the 99 handle is a sign that the market has broken through the wedge again, and it makes it completely irrelevant. That’s what we think is about to happen, but we need to see that in order to be comfortable enough to start buying this market again.
Written by FX Empire