By FXEmpire.com
The USD/JPY pair did very little on Monday as traders have learned that the Bank of Japan isn’t very amused by the attempts to push this pair below 77. The last several candles do in fact make several hammers, and this looks very supportive. We have been looking for that thrust upwards in which to join in. Until that happens, we can only watch. The entry point for us is the 77.60 mark – this is to give us a move above not only the 77 level, but the .50 level that often produces reactions in price as well. We won’t sell – the Bank of Japan won’t let us.
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