The USD/JPY pair rose during the session on Thursday, slicing all the way up to the 100 handle. That being the case, we feel that the market moving above 100 is a buy signal, and as a result we could go as high as 105 given enough time. Pullbacks should offer buying opportunities, on supportive candles. We think that the 99 handle especially will be applicable in this particular scenario. As far as selling is concerned, we have absolutely no chance of doing so as we see far too many supportive areas below.
Written by FX Empire