The USD/JPY pair rose during the course of the day on Thursday, hanging about the 105 level. With today being the nonfarm payroll announcement, it’s likely that there will be quite a bit of volatility in this pair. This pair tends to rise with employment numbers out of the United States, so the better the numbers are, the higher this pair goes. That being the case, we can break above the 105.40 level, we feel that this market can break out to go much higher, probably aiming the 110 handle given enough time. With no interest in selling, we are buying pullbacks.
