The USD/JPY pair rose during the session on Tuesday, breaking above the highs from the Monday session as well. This wiped out quite a bit of losses, as the market approach the 104 level. That being the case, this market looks like it’s ready to continue to try and attack the 105 level. Because of this, we feel that the market will continue to go higher, and will eventually break above the 105.50 handle, which leads us towards the 110 level which should is our longer-term target at the moment. Pullbacks on the short-term charts should be buying opportunities.
Written by FX Empire