The USD/JPY pair initially fell during the course of the session on Thursday, but found enough support to turn things back around and form a hammer for the second day in a row. Ultimately, the market should continue to go higher and grind its way towards the 120 handle. That level is significant resistance and goes all the way to the 122 level but we do believe that the market should continue to go higher. If we break above the 122 level we should then start to look at the 125 level as a possible target. We have no plans to sell.
