The USD/JPY pair rose during the session on Monday, breaking out above the 102 level. This market bounced off of a trend line from the previous sessions, and as a result we feel that the market will ultimately head to the 103 level. Things might be choppy between here and there, but anytime this market pulls back we should see potentially strong buying opportunities on short-term charts. The 103 level will of course be resistive, but if we can get above there we see no reason why this market does in go to the 104 handle.
