USD/JPY went back and forth on Thursday, essentially hovering below the 105 handle. This is not much of a surprise as the nonfarm payroll numbers come out later today, which of course greatly influences this pair of the longer term. Ultimately, we believe that this market does go higher given enough time, but it could be very volatile during the session. If we get a daily close above the 105.50 level, we think that is more than enough for this market to continue going higher and aim for the 110 handle, which of course is our ultimate target at this point.
Written by FX Empire