The USD/JPY pair fell during the bulk of the session on Wednesday, showing the 101.50 level to be supportive. That being the case, it feels as if the market is trying to get some type of traction here, but ultimately we have a situation where the market is going sideways and doesn’t seem to have any real direction overall. We do believe that ultimately this market breaks out to the outside, but it could take some serious doing to finally make it happen. We have no interest in selling, and believe that short-term traders will continue to buy on dips.
