The USD/JPY pair got a boost on Friday as traders continue to buy the Dollar against the Yen at the moment. However, there is a ton of selling in this pair overall and the 0.8000 level is still massively resistive. With this in mind, we prefer selling at higher levels as this pair will continue to be a “sell the rallies” type of pair. The trade going forward will be in that vein, and we aren’t willing to buy at this time. Any sign of weakness gets us short again.
Written by FX Empire