The USD/JPY pair fell during the session on Monday, after initially breaking higher. The pair is overextended by anybody’s measure at this point in time, so a pullback really isn’t too far out of the normal stretch of things right now. However, we do recognize the 90 handle as the “floor” in this market right now, and as a result we are looking for some type of supportive candle between here and there in order to start buying this pair again. With the trend most decidedly bullish, we certainly can’t sell this market anymore.
Written by FX Empire