The USD/JPY pair broke higher during the course of the day on Monday, testing the 140 level. With that being the case, the market looks like every time it pulls back, there could be a buying opportunity. Without a doubt, the US dollar is favored over the Japanese yen, and the Bank of Japan is looking to continue to keep its monetary policy extraordinarily loose. On the other side the Pacific, you have the Federal Reserve exiting the quantitative easing game, so it makes sense of this market continues to go higher. We believe that this market goes to the 115 level next, and that pullbacks offer value.
