I think we’ve got a situation where it’s a bit of a “perfect setup”, and we should continue to see plenty of upward momentum in this market.
- The US dollar has rallied ever so slightly during the trading session on Thursday as we continue to attempt to build momentum in the USD/JPY pair.
- The market has been very noisy, and therefore it should not be overly surprising that the market is trying to figure out where it’s going next. At this point, looks like we are trying to form some type of ascending triangle underneath a major round figure.
- The ¥145 level is an area that will attract a lot of attention, and therefore it should not be a huge surprise to see that the market offer resistance.