The USD/JPY pair had a very strong session on Monday, slicing through the 120 level during US trading. That being the case, the market looks very bullish and if we can break above the top of the range for the session on Monday, we are more than willing to start buying and aiming for the 122 level. Any pullback at this point time should find buying pressure, as the 119 level looks to be very supportive. Ultimately, we believe that this market will continue to go much higher, probably heading to the 125 level.
