The USD/JPY pair fell hard during the session on Wednesday, testing the 102 level. The market did find buyers there, so it appears that there are at least enough people that believe in the uptrend to keep the market somewhat afloat. Nonetheless, we do not have a supportive candle in order to start buying, even though we believe that ultimately this market does break out to the upside as the FMOC did cut back on tapering slightly during the session, which should ultimately be positive for the US dollar over the longer term.
