The USD/JPY pair went back and forth during the session on Friday, but bounced off of the 100 area in order to form a hammer. We have been very bullish of this market for the longest time now, and we think that this hammer signifies that we are indeed going higher. We think the next place that will be targeted is a 102 level, followed by the 103 level. As far as selling is concerned it’s impossible as far as we see, and any pullback at this point in time will more than likely end up being a nice buying opportunity.
Written by FX Empire