The USD/JPY pair fell during the day on Monday, testing the 103 level for support. This is an area that begins a significant amount of support all the way down to the 102.50 level, so some type of supportive candle in this vicinity would make sense. We not have it at the moment though, so we are on the sidelines. As soon as we get that supportive candle though, we are more than willing to start buying this market as we believe in the long-term validity in the uptrend that we’ve seen recently. That being said, we are not selling.
Written by FX Empire