The USD/JPY pair fell for the session on Tuesday as the “risk off” markets came back into play. The support in this pair should be rather strong, and we see the 90 handle as being crucial. With this in mind, we are willing to buy this pair on a break of the highs from Tuesday, and believe that a move back to the 94 handle is very likely. Going forward, we suspect the 95 handle should be rather resistive as well, but still look at this pair as a “buy on the dips” type of market. We have no plans on selling at this point.
Written by FX Empire