The USD/JPY pair broke higher during the day on Wednesday, as we continue to consolidate between the 118.50 level and the 122 level. With this, we feel that any pullback at this point in time is probably going to be a buying opportunity, and have no interest in selling. After all, the Federal Reserve will more than likely raise rates sometime this year, and most certainly long before the Bank of Japan will. With this, we are buyers and not sellers and believe that the market will eventually reach towards the 125 handle.
USD/JPY Forecast September 10, 2015, Technical Analysis