The USD/JPY pair rose during the course of the day on Monday, but as you can see we are still struggling to get above the 102 level. Because of this, we feel that this market probably has the ability to go higher, but quite frankly we are more comfortable buying on a slight pullback to show signs of support at this point in time. There is a massive amount of support down at the 101 level, so we have no interest in selling until we clear below the 100 level, something that’s probably not going to happen anytime soon.
