The USD/JPY pair rose during the Thursday session as the uptrend continues to push the pair higher. The candle has broken above the shooting star shaped candle on Wednesday, and this looks like a breach of minor resistance. The pair has recently broken out over the 80 handle, and this latest pop shows that the breakout should be considered to be real, and that the path of least resistance is probably going to be to the upside. The selling of this market can’t be done until we break well below the 80 handle, and to be honest – that might be difficult as well as the Bank of Japan will probably act.
Written by FX Empire