The USD/JPY pair fell during the session on Tuesday, breaking the bottom of a hammer from the Monday session. This is normally a very bearish sign, but quite frankly we don’t short this pair at all based upon what the Bank of Japan is doing. After all, they are going to kill the value of the Yen sooner or later, and have made no bones about it. With that being the case, we are looking for supportive candles in order to start buying this pair again. It is obvious that a move above 100 signals a new leg higher at a massive breakout.
Written by FX Empire