The USD/JPY pair went back and forth during the session on Monday, essentially deciding nothing. This looks like a market that could pull back slightly, but quite frankly we think there are plenty of buyers below in order to keep this market somewhat afloat. If we can get above the 99 handle, we are more than willing to start buying in more significant size, as it should open up the floodgates to the 100 level, and much higher levels beyond that. We are not particularly interested in selling at the moment as we believe ultimately this market will go higher.
Written by FX Empire