The USD/JPY pair spent most the day falling on Monday, but did gapped higher at the open. Essentially, we ended up filling that gap and showing that the 102 level is in fact going to be supportive. With that, we are willing to buy a supportive candle, which we don’t necessarily have yet, but we recognize the fact that the support is starting to show itself. Because of this, we are still bullish of this market, and do recognize that buying opportunity should present themselves relatively soon. Selling is not an option at this point.
