The USD/JPY pair broke down during the course of the day on Friday, slicing through the 110 level, and of course the 111 level. Because of this, it looks as if the market is going to continue to go much higher, perhaps reaching towards the 114 handle. It will be choppy though, because there is a lot of noise above, so at this point in time short-term pullback should be looked at as potential value plays as we now show quite a bit of bullish pressure in this marketplace. We don’t have any interest in selling this market at the moment, due to the impulsive candle.
