The USD/JPY pair rose during the session on Monday, but as you can see we are still well within a relatively tight consolidation range that runs all the way up to the 98.50 area. That being the case, this market looks like it’s going to continue to chop around and been basically a short-term traders market, which of course is very common on a week that nonfarm payroll numbers come out. With that being the case, we are simply avoiding this market at the moment, although we do have more of an upside bias than down.
Written by FX Empire