The USD/JPY pair went higher during the course of the day on Friday, testing the 109.50 level. Because of this, we feel that the market will eventually break out above the 110 level, but it’s going to have to build up a bit of momentum in order to do so. Pullbacks at this point time continue to be buying opportunities as far as we can see, especially considering that the trend is so strong. It is not until we break down below the 105 level that we would even consider selling, something that isn’t going to happen anytime soon.
