The USD/JPY pair fell during the session on Wednesday, in a generally dollar negative tone. However, we are still well within the vicinity that we have seen recently act as a magnet for price, and as a result don’t really have much in the way of a trade here. We still believe that the market is ultimately going to go higher, but right now it appears that it’s happy consolidating in this area. With that being the case, we are on the sidelines but think that there is plenty of support below to keep pushing the markets higher.
Written by FX Empire