The USD/JPY pair tried to rally during the session on Tuesday, but as you can see failed to hang onto the gains. The resulting candle is a shooting star for the second day in a row, which of course suggests that this pair is going to go lower. If it does, we actually preferred this, as it should signify that the market is going to try and pick up more buyers in order to continue the momentum to the upside. We will not sell, and we would be more than happy to buy supportive candles below, especially closer to the 100 handle.
Written by FX Empire