The USD/JPY pair went back and forth during the course of the day on Wednesday, testing the 120 handle. That being the case, the market looks as if it is starting to show significant strength below, but we are still well within the consolidation area that we have been in for some time. With this, we believe that the market will more than likely try to reach the 121 handle, but could eventually break out above there. Short-term pullbacks offer buying opportunities as well. We have no interest whatsoever in selling this market.
