The USD/JPY pair fell slightly during the session on Thursday, but as you can see remains above the 97 handle. This area is often a little bit of support, and as a result we think that this market should continue to see a little bit of buying pressure in this general vicinity. That being the case though, we feel that this market also is a bit choppy at this point time for our taste and believe that as long as we do not know what the Federal Reserve going to do vis-à-vis the Bank of Japan, it’s going to be very difficult to trade this market for anything more than a short-term scalp.
Written by FX Empire