The USD/JPY pair initially tried to rally during the course of the session on Tuesday, but pulled back at the 123 level as we sell quite a bit of resistance. Ultimately, this market is consolidating and we believe that it will more than likely continue to be fairly quiet until Friday when we get the jobs number out of America. We prefer buying pullbacks and show signs of support though, because it’s only a matter time until we reached the 125 level in our opinion. In fact, we believe we break above there also.
