The USD/JPY pair tried to rally during the course of the session on Friday, and while we do keep quite a bit of the gains, we are still below the 120 level. The 120 level represents a significant amount of resistance, so it is not until we get above there that we feel comfortable buying, or if we can pull back and find a supportive candle below as well. With that, we are bullish and have no interest whatsoever in selling this market as the US dollar should continue to appreciate in value.
