The USD/JPY pair rose during the course of the session on Tuesday, breaking the top of the hammer that had formed on Monday. Because of this, the market does look like it’s going to continue going higher, aiming for the 103 level. That area is a massively resistive area though, so it will more than likely be a bit of a struggle to get up above it. Once that happens though, we feel that the market will aim for the 104 level, and then ultimately the 105 level given enough time. Shorting is not possible.
