The USD/JPY pair initially tried to rally during the course of the session on Friday, but fell back into the previous consolidation area in the form of the triangle. That being the case, we have a market that tried to break out but failed. If we can break out above the top of the shooting star though, the market should continue to go much higher. At that point time we would not hesitate whatsoever to start buying. On the other hand, if we break down from here we have no interest in selling until we get below the 118.50 level.
