The USD/JPY pair fell hard during the session on Thursday, slicing through the 105 level. However, market conditions are very illiquid so we don’t read too much into this. We expect this pair to continue to meander around this general vicinity, and quite frankly believe that consolidation will be the attitude of the market until we get the nonfarm payroll numbers at the end of next week. This market should continue to be bullish overall, so we are looking for supportive candles get involved, adding to the already long position that we carry.
Written by FX Empire