The USD/JPY pair fell during the course of the day on Wednesday, testing the bottom of the range that we have been trading in. However, we think that it is not until we get below the 118.50 level that we can feel comfortable selling. We believe that sooner or later we will get a supportive candle on this chart, and as a result we would be buyers at that point in time. Nonetheless, we do have to be cognizant of the fact that the US dollar is a losing value in general, so a supportive candle is definitely needed before we start putting money to work.
