The USDJPY pair went back and forth during the day on Friday essentially settling nothing.

Ultimately though, the market should continue to go higher given enough time, but having said that we recognize that we don’t have a supportive candle quite yet.

Any supportive candle in this area should send this market looking towards the 125 handle given enough time, as the market has a lot of noise between here and there but also has visited that level, and therefore is attracted to that area.

Eventually will break above there and continue to the 130 level.

Editor’s Note: Equity investors/traders can use the Currency Shares Japanese Yen Trust (FXY, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the Japanese Yen (USDJPY), minus ETF fee. The fund seeks to reflect the price of the Japanese yen (USDJPY) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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