The USD/JPY pair rose during the session on Thursday, but remained well within the consolidation area that we’ve seen recently. Because of this, we don’t really have much of a trade set up in this pair, but do recognize the fact that it should ultimately go higher based upon several different fundamental and technical factors. With that, we are buyers above the 102.50 level, expecting the market to hit the 103 level, and then ultimately the 105 level. Pullbacks should continue to offer short-term buying opportunities as there seems to be plenty of support down near the 101 level.
