The USD/JPY pair fell slightly during the course of the day on Thursday as we continue to grind lower. However, we had suggested yesterday that we are simply sitting on the sidelines and waiting for support in order to start buying, and we are still in that mode. We figure that there’s only a matter of time before we get the buyers involved, and we will buy once we see either a bounce, or a supportive looking candle. We believe at that point in time, the market will then reach back towards the 124 level.
