The USD/JPY pair went back and forth during the session on Friday, but essentially ended up running a shooting star. We are sitting just above the 104 level, and think that this market is getting ready to pull back slightly, but at the end of the day this market will continue the uptrend and head towards the 105 level. Because of this, we are only buying this market, and will do so on the first signs of support. However, keep in mind that Christmas is on Wednesday, so it’s very likely the market will be very little in the next few sessions.
Written by FX Empire