The USD/JPY pair rose during the session on Tuesday, using the 102 level as a springboard. Part of this would’ve been because of the Federal Reserve continuing to taper according to Janet Yellen’s words, and as a result we believe that this market is ready to go much higher. We believe that ultimately this market does retest the 105 level again, so we are very bullish on a break of the highs from the session on Tuesday. Pullbacks should offer buying opportunities, and with that we are in a “buy only” type of market now.
