The USD/JPY pair rose during the session on Wednesday, bouncing off of the 97 handle. We did not completely and golf the previous days bearish candle, but having said that we did take enough away make this market at least look somewhat supportive in this general vicinity. With that being the case, we are still bullish of this market long-term, and quite frankly are comfortable buying it down at these levels. However, if you are waiting for more clear-cut signal, a move above 99 would be that signal as momentum will have definitely shifted to the upside at that point.
Written by FX Empire