The USD/JPY pair initially fell during the session on Monday, but found enough support to bounce and break above the 120 level. That being the case, the market looks as if it is ready to continue going higher, but keep in mind that there is a lot of noise between the 120 and the 122 levels, so expect this to be a bit of a fight. Short-term pullbacks should offer buying opportunities, and if we can finally get above the 122 level, we feel at that point time the market should then head to the 125 handle. Ultimately, we have no interest in selling this pair.
