The USD/JPY pair fell during the session on Friday, slamming into the 102 level. That area offered enough support to keep the market afloat, but as a result this market still looks quite a bit negative. However, we don’t like this market to the short side for any real length of time, so we feel much more confident and comfortable buying on a supportive candle. Because of this, we are on the sidelines at the moment, but do recognize that there are a couple different places that could offer enough support to get the market turned around.
