The USD/JPY pair continues to go higher, as we are fighting with the 115 level. We believe the pullbacks at this point time should be buying opportunities as the market continues to strive higher. We also believe that the Federal Reserve staying away from the quantitative easing game should continue to push this pair much higher, creating a “buy on the dips” type of mentality. We believe that the 110 level below should offer plenty of support, and as a result we think that there is no way to sell this market and we believe ultimately that we could go as high as 120.
