The USDJPY pair bounced during the day on Friday as the employment numbers came out much stronger than anticipated.

When the US jobs numbers go up, it’s quite common for this pair to do the same. It appears that we are continuing to consolidate overall and that pullbacks continue to offer buying opportunities.

Given enough time, the market should then go to the 125 handle after any type of bullish action.

If we can get above there, we believe that the longer-term market becomes a “buy-and-hold” type of situation, and at this point in time have no interest whatsoever in selling.

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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