The USD/JPY pair initially tried to rally during the session on Wednesday, but turn things back around by the end of the day and plunged to the bottom of the recent consolidation. This market is essentially a sideways market at the moment, and therefore it’s a short-term traders market at best. We have no interest in place in a trade at this moment, but do believe ultimately it will be a bullish move that breaks the stalemate. Selling at this point in time is an interesting, just as buying isn’t at this moment.
