The USD/JPY pair rose during the session on Wednesday, but failed to break above the 105 level. However, we do feel that this market is eventually going to do so, and believe that long-term opportunities will present themselves above the 105.50 level. Once we get above there, we feel that the market could very easily hit the 110 level, which of course has been our target all long. With that, we are bullish of this market but recognize that we may need to be patient in order to get the trade signal that we have been looking for.
Written by FX Empire