The USD/JPY pair rose during the session on Friday, as the 101.50 level offered support yet again. On top of that, the uptrend line offered support also. That being the case, the market looks as if it’s ready to start bouncing again, heading to the 102.50 level in the short term, followed by a move to the 103 level. We think that the 103 level will be massively resistive, and as a result would expect some type of push back at that point. Selling at this point time can’t be done as there is far too much in the way of support below.
