The USD/JPY pair fell during the course of the session on Thursday, as we continue to bounce around the 120 handle. With that being the case, the market looks as if it is simply going sideways, and as a result we are more than likely just waiting to see what happens with the jobs number today. We do believe ultimately this pair goes higher though, so any pullback at this point in time should be thought of as a buying opportunity. Keep in mind that there is a lot of knee-jerk reactions when it comes this announcement, so having said that the initial reaction is almost always retraced.
