The USD/JPY pair rose again for the session on Friday, stopping at the 98.53 level. This is the very bottom of the pennant that we had been trading in, so it’s interesting to see whether or not we can get above the line. Right now would be a perfect place to see a resistive candle, but it does not look like its coming. With that in mind, if we can clear back into the pan it cleanly, we would be buyers at that point time, but recognize that there is a lot of noise to chew through just above.
Written by FX Empire