The USD/JPY pair initially tried to rally during the day on Wednesday, but found enough resistance to turn things back around and form a shooting star. That being the case, looks as if we could very well drop from here. On the other hand though, if we break above the top of the shooting star, that’s a very bullish sign and should send this market looking for the 114.50 level above. Keep in mind that this pair tends to be sensitive to risk appetite globally, so pay attention the stock markets as they tend to move in the same direction.
