The USD/JPY pair rose after originally falling for the Friday session as the support level at 82 held true yet again. The pair has recently enjoyed resurgence in the bullish case, and as long as the Bank of Japan continues to buy JBGs, they are essentially printing Yen and flooding the market. This should continue to weaken demand for the Yen, and as a result we expect this pair to continue to gain overall. We are buyers of dips, adding to our core long positions at this point. It would take a sub-80 daily close in order to get us selling this pair.
Written by FX Empire