The USD/JPY pair fell slightly during the session on Monday, but bounced enough to form a neutral candle. The candle shows almost no range, so because of this we still look at the 101 handle as the area that we are grinding away at sideways. We still only buy this pair believe that the 100 level will be massive support. Because of this, dips are buyable occurrences for us, and we will not short this market. The Bank of Japan continues to work against the value of the Yen, and because of this we feel that this market will continue much higher over the longer-term.
Written by FX Empire