The USD/JPY pair fell during the session on Wednesday richly, but bounced in order to form a somewhat positive looking candle. However, we are still well below the 105 level which of course is resistance. In order to get fully bullish in this market we would need to see a break above the 105.50 level, something that would take a bit more significant buying pressure. However, we certainly won’t sell this market and as a result we feel that this market is a “buy only” market, buying pullbacks in show signs of support and of course the aforementioned break out.
