The USD/JPY pair fell during the session on Tuesday, but as you can see really didn’t go too far. We think that this market is essentially in a bit of a malaise at the moment, and probably one would be broken buying the liquidity that will return at the end of summer. The meantime, we think that there is still an upward bias in this market overall, and as you can see the fall that we have seen recently has only been during the summer months. Once larger traders return, we fully expect this market to go higher and think that it would be signified by a daily close well above the 98 handle.
Written by FX Empire