The USD/JPY pair had a positive showing on Thursday, as we bounced off of the 97 handle again. This area has been reasonable support lately, and as a result this bounce doesn’t overly surprise us. However, one thing you will have to keep in mind is that today is nonfarm payroll Friday, and as a result this pair will be very volatile in reaction to that number. This pair typically does very well when the number is good, and we don’t see anything different this month. With that being said, we are going to wait until after the announcement to make our decision and what we see is a “buy only” pair. Quite frankly, if this pair dips, we look at it is going “on sale.”
Written by FX Empire