The USD/JPY pair fell during the balance of the session on Thursday, but bounced enough to form a hammer, which of course is a bullish sign. The market has a certain amount of resistance above, but overall we feel that this market will go higher over the long term. The 99 handle should be a market for the buyers, and a daily close above there would have us buying as well. This pair will continue to be sensitive to the interest rate prospects coming out of the Federal Reserve for the foreseeable future.
Written by FX Empire