The USD/JPY pair initially fell during the session on Wednesday, but found enough support below to turn things back around and form a bit of a hammer. Because of this, the market looks as if it is ready to continue going higher and heading to the 120.50 level. We think that the markets are eventually going to go much higher, but keep in mind that the markets will more than likely be rather choppy as there is a lot of confusion in the marketplace right now. Ultimately, we have no interest in selling this pair though.
