By FXEmpire.com

The USD/JPY pair managed to dip for the first part of the week, but turn around and pop over the latter half. The pair bounced just above the 50% Fibonacci level, and we are very constructive of this pair. The FMOC meeting is this week, and the Japanese are expected to crank up the printing presses again this coming week. Because of this, we prefer buying this pair going forward, and think that adding on dips is the way to go as well. In fact, if we can break the 85 level – we are hanging onto this long sided trade for months.

Click here a current USD/JPY Chart.

Originally posted here