The USD/JPY pair rose during the course of the session on Monday, as we continue to bounce around in this consolidation area. Because of this, we feel that the market will ultimately go to the 102.50 level. Because of this, we feel that the market should continue to be one that you can buy on dips, but keep in mind that it is without a doubt a very short-term type of market at the moment. The fact that we are heading into the middle of the summer suggests to us that a break out of the larger consolidation probably isn’t going happen anytime soon.
