USD/JPY: Plenty of volatility, direction still bullish

The day-traders can’t complain about the opportunities in USD/JPY with multiple opportunities to trade either side of a 100 pip range. The market is awaiting official news of a general election in Japan and this uncertainty will only add to the volatility.

There will be opportunities for both sides but those who’ve been buying dips are clearly coming out on top. The next big optionality level on the topside is at 117.50 I’m told, so that will be an obvious target. Support levels are firming now just below 115.00.

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