The USD/JPY pair initially when higher during the course of the session on Wednesday, but pullback later in the day in order to form a slightly less positive candle. With that, the market looks as if there are buyers underneath, but quite frankly we just been so consolidated and tight that it’s difficult to imagine placing any longer-term positions. With that, we feel that the market should ultimately go higher, but it is going to be very choppy at this point in time. With that, we are looking for a supportive candle, but don’t really have a quite yet.
