The USD/JPY pair shot straight up during the session on Thursday, as we managed to breakout to a new recent high. This being said, this pair now looks comfortably above the 90 handle, and could continue much higher. We are very bullish of this pair overall, and do suspect that sooner or later we will attempt to reach the 95 handle. However, this could be a little bit of a choppy move so only those who happen to have stomach for this type of move should be involved. Certainly no, you cannot be selling this pair as the Bank of Japan is more than willing to punish you for it.
Written by FX Empire