The USD/JPY pair rose initially during the session on Thursday, testing the 102 area. This area pushed the market back down, and sent it all the way down to the 101.25 region. This is the area that has been very supportive, and as a result we bounce slightly from that area. Ultimately, we formed a negative candle but certainly not as negative as it could have been. It appears that we are going to consider consolidating between the 101.25 level and the 103 level at the top. With that, we are looking for supportive candles to start buying.
