USD/JPY pair initially fell during the session on Thursday, bouncing off of the 101.50 level though. That being the case, the market looks as if it wants to go higher, and as a result break the top of a hammer would in fact be a buy signal as far as we can see. We can go to the 102.50 level fairly easily in our estimation on that break higher, but recognize that this market probably doesn’t have a lot of momentum one way or the other. With that, we feel that the market is essentially a short-term traders market at best.
