The USD/JPY pair rose during the session on Wednesday, but found the area above the 91 handle a bit too much for the buyers to hold onto. The resulting candle is somewhat of a shooting star, but it’s not overly bearish looking. It’s not exactly a well-placed shooting star, as it is a bit fat in the body. Because of this, we suspect that any pullback will more than likely find buyers, but do recognize that a move above the highest would be a buying opportunity. This market is without a doubt bullish, and we will not sell it and only buy it on the dips.
Written by FX Empire