The USD/JPY pair fell during a large portion of the session on Tuesday, but eventually found enough support to form a relatively positive looking hammer. Because of this, we feel that a break of the top of the hammer for the day since this market to the 103 level, although we would expect a lot of trouble above. Even if we break down below the bottom of the hammer, we still believe that there is enough support below that will start buying closer to the 101 level. With that, selling is not an option.
