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Published on Nov 15, 2016
The
USD/JPY pair initially fell during the session on Tuesday, as the
107.50 level offered quite a bit of support. I believe that this market
should continue to find buyers even though we are bit overextended. With
this in mind, I think you may have to look for short-term pullbacks for
buying opportunities going forward, as we continue to not only see
bullish pressure, but at this point it’s very likely that we will
continue to see quite a bit of volatility. I think the pullbacks will be
necessary, as we have gone so far to the upside. I have no interest in
selling, I believe the US dollar continues to be the favored currency
around the world, and of course the Japanese yen has been selling off.
As the stock markets go higher, we could see this market rise as well.
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