The USD/JPY pair initially fell during the session on Friday, but as you can see powered higher later in the day to close above the 105 level. We have now reached of the target that we had set in this market, but if we break the top of this hammer, we believe this market is heading towards the 110 level eventually. Ultimately, the Bank of Japan has just recently started easing monetary policy again, while the Federal Reserve has started to taper. With that in mind, this is a market that should head in one direction, up.
Written by FX Empire