The USD/JPY pair fell during the course of the day on Wednesday, but as you can see bounced back above the 102 level. Because of this, we feel that the market still has plenty of support below, so we are looking for supportive daily candle in order to start buying again, anticipating a move back to the 103 handle. It’s hard to imagine this market breaking above there though, as we are in the month of August so we think this is more or less going to be a short-term buying opportunity at the moment.
