The USD/JPY pair broke higher during the course of the session on Friday, but quite frankly not far enough to get us interested. It appears of this market is going to continue to be volatile and choppy, so quite frankly unless you are a very short-term trader, you probably won’t have much to do with this particular pair. It is not until we break above the 121 handle that we are comfortable buying, because it is the top of the very short-term consolidation. Ultimately though, we do think this pair goes higher given enough time.
