The USD/JPY pair shot higher during the course of the session on Monday, the 120 level offering support. With that being the case, the market looks as if it is ready to reach towards the 121 handle, and as a result the market will more than likely break out to the upside given enough time. Any pullback at this point in time should be a buying opportunity as far as we can see, extending all the way down to the 119 level at the very least. We have no interest in shorting this market at all as there is plenty of opportunity to go higher.
