The USD/JPY pair rose slightly during the course of the session on Friday, but we continue to grind sideways overall as there is plenty of volatility in this market right now, and not necessarily a whole lot of direction. Ultimately though, I believe that the Bank of Japan will defend the 100 level below, so I am more interested in buying than selling. I would love to see some type of supportive candle or an impulsive candle to the upside that I can take advantage of. I have no interest whatsoever in selling because of the Bank of Japan.
