USD/JPY continues to hover just below the 77 handle, and just above the 76. The pair actually touched 77 on Thursday, but failed to break out yet again. As we have been saying, this pair is well-suited at this point to be scalped, and not traded for anything more than a few dozen pips. We like buying as it gets closer to 76, but aren’t as keen selling in general, as the Bank of Japan is waiting to intervene if necessary to keep this pair afloat.
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