The USD/JPY pair fell hard during the day on Wednesday, breaking down to the 119 level. That being the case, the market looks as if it is ready to continue going lower, perhaps heading down to the 118.50 level. That being the case, the area looks like it will be tested yet again. The US dollar continues to struggle overall as it has over the last couple of weeks, but this pair could be a little bit of an anomaly. If we have a supportive candle in this area, we are more than willing to start buying again. We recognize it as a short-term trading opportunity though.
