The USD/JPY pair went back and forth during the session on Wednesday, forming a very neutral candle. Perhaps this is a sign that a pullback is about to happen, but we see significant support just below at the 101.50 handle. That being said, a break of the top of the candle for the Wednesday session would indeed be very bullish. On the other hand, the 100 handle below should be massively supportive as well, so even if we get that little bit of a breakdown it won’t lead to much. That being the case, pullbacks are buying opportunities, and a breakout to the upside is as well.
Written by FX Empire