The USD/JPY pair fell slightly during the course of the session on Monday, but found enough support just below to bounce and form a little bit of a hammer. Ultimately, this is a market that has quite a bit of support all the way down to the 110 level anyway, so more than likely we will have buyers enter this market sooner or later. The 115 level above is massively resistive though, so we think that overall just going to continue to go back and forth at this point in time as we continue to see quite a bit of volatility in the markets overall.
