The USD/JPY pair initially fell during the session on Wednesday, but found enough buyers below in order to send the market back up. Ultimately, we formed a positive candle, and it appears that we are in fact going to head towards the 103 level. We believe the pullbacks will continue to offer buying opportunities, especially off of the short-term charts. Ultimately, we do believe that this market will break above the 103 level and head to the 105 level given enough time. Selling is not possible, especially considering the fact that the impulsive candle that formed on Monday looks so strong still.
