The USD/JPY pair initially broke higher during the session on Monday, but continues to see a lot of consolidation in this general vicinity. However, this isn’t a market that we are willing to sell. We are simply looking for opportunities to buy the US dollar against the Japanese yen, we just don’t have the signal quite yet. Longer-term, we still believe that the pair goes to the 130 level, but it is going to take a bit of momentum. With this, we are bullish but on the sidelines at the moment and waiting for either a supportive candle or an impulsive candle higher.
