The USD/JPY pair broke down during the session on Tuesday, we trace in all of the gains for Monday. Ultimately though, this market has broken out to the upside in as well above the 120 level. Because of this, we are looking for short-term supportive candles in order to go long, and a market that we think is about to enter a longer-term buy-and-hold type of situation. We have no interest in selling as the US dollar is the favored currency around the world right now. With that being said, we are very bullish.
