The USD/JPY pair broke down during the course of the session on Thursday, falling all the way down to the 118.50 region. However, we found a little bit of support in this area as one would expect, which of course is a strong sign. That being the case, the market below has plenty of noise so we have no interest in selling anyway. Because of that, we are looking for some type of supportive candle in order to start going long, even if it is on the shorter-term charts. We believe that this market will then head to the 121 level, perhaps even the 122 level.
