The USD/JPY pair fell during the course of the session on Tuesday, testing the 101.50 level. With that being the case, it makes it appear to us as if there should be a bit of support just below, and we are waiting for that supportive candle in order to start buying again. We recognize that the 101 level is significant support and has been the bottom of the consolidation area for some time now. With that, we feel that the market will bounce, providing a short-term buying opportunity. On the other hand, if we did manage to fall below the 100 area, that would be very negative.
