The USD/JPY pair shot straight up during the Thursday session as we slammed into the 90 handle. At the end of the session though, we did pullback a little bit from that level and now are finding ourselves fighting the resistance in order to go higher. Whether or not we can close above it at the end of the session will be another question, but it certainly looks like 90 is very vulnerable at this point in time and that the buyers should come out on top. On a daily close above that level, we believe that this pair goes to the 95 handle over the course of the next couple of weeks.
Written by FX Empire