The USD/JPY pair initially fell during the course of the day on Monday, but found enough support at the 102 handle to turn things back around and form a nice-looking hammer. This hammer of course suggests that buyers are coming back into the marketplace, and as a result we think that there will be a slightly upward bias in this market going forward. We believe that the 103 level will eventually be targeted, but recognize that the move will probably be very choppy. With this, we have no interest in selling this market currently
