The USD/JPY pair attempted to rally during the session on Tuesday, but fell flat as we ended the day negative. The candle that formed was a shooting star, and as a result it looks as if the pair is prepared to continue lower. Quite frankly, we love this idea as the pair has been so bullish lately that we need a pullback. The gap hasn’t been filled at the 85 handle, and we think that would be an excellent place to start buying this pair again. We are not selling however, as there is so much buying pressure overall on this market. We think this will prove to be a great chance to get involved at a lower price over the next several sessions.
Written by FX Empire