The USD/JPY pair initially tried to rally during the session on Tuesday, but as you can see continue to simply go sideways. The marketplace will probably do very little over the next 24 hours, as the Americans had off towards their Thanksgiving dinners. With that being the case, we feel that waiting for a pullback is probably the best way to play this market as you certainly cannot sell it, and we certainly believe that we are going much higher. The 150 level below is essentially the “floor” in this market, and as a result we are buyers eventually.
