As you can see, the USD/JPY pair went back and forth during the session on Tuesday, but most importantly found support right around the 102 level. It isn’t really a hammer, but as you can see it looks a bit supportive. If we break the top of that candle, we believe that this market should go to the 103 level. If the 103 level gets broken, we believe that the market goes to the 104 level, and then the 105 level. With that, pullbacks on short-term charts should offer buying opportunities when you see supportive candles.
