The USD/JPY pair went back and forth during the day on Tuesday, essentially forming a hammer yet again. Because of this, the market looks as if it is completely supported below, probably finding a bit of a floor at the 120 level. With that, we believe that buying is the only thing you can do, and as a result we are looking to buy this market every time it dips. We recognize that eventually we will break out to the upside, and once we do we should head to the 125 level given enough time.
