The USD/JPY pair initially rose during the session on Thursday, but turned back around and fell to form a shooting star. With the nonfarm payroll number coming out today, that is not a surprise as this market tends to react that announcement quite significantly. If we fall below the bottom of this candle, we probably are just going to continue the consolidation area that we have been in for some time as represented by the yellow box on the chart. On the other hand, if we can get above the 103 level, especially on a daily candle, we believe that this market should continue much higher, probably to the 104 level and then to the 105 level.
