The USD/JPY pair rose during the session on Tuesday, reversing the losses that we had seen on Monday. That being the case, looks like the market is going to continue to bounce around the 105 level, and with nonfarm payroll numbers coming out soon, it suggests that we will have more of a sideways grind in this market. Ultimately, we do think that this market will break out to the upside, and we are long of this pair already. Quite frankly, a move above the 105.50 level has us buying more, as we think that we are going to continue to see bullishness for several months, if not years.
Written by FX Empire