The USD/JPY pair went back and forth during the session on Wednesday, essentially hugging the 98 handle. That being the case, the markets look like they’re still trying to decide what to do with this pair, so at this moment time we are out of the market for it. However, if we managed to break the highs for the session on Wednesday, we think that the market will indeed head towards the 100 handle. Because of the Bank of Japan and its work against the Yen, we absolutely will not sell this pair.
Written by FX Empire