The USD/JPY pair tried to rally on Friday, but struggled as you can see. The market ended up forming a shooting star, which is of course bearish. However, the market is still bullish as far as its bias at the moment, and as a result we are looking to buy pullbacks. A break above the shooting star is also a buying opportunity as well, and as a result we are “buy only.” The area below is really noisy, so we would expect a lot of support below, and as a result we think that the buyers will come back sooner or later.
