The USD/JPY pair went back and forth during the session on Wednesday, as the 119 level offered support. We believe that this market will more than likely go higher going forward, but with the nonfarm payroll numbers coming out tomorrow, it may be after that announcement. Because of this, we look at pullbacks as buying opportunities, but ultimately recognize that we could be quiet for the next couple of days. We believe that the 115 level below is massively supportive, and as a result it is essentially the “floor” in this market. We believe we go much higher.
