The USD/JPY pair went back and forth during the course of the day on Thursday, testing the 120 handle. That’s an area where we see a significant amount of resistance in our opinion, as it is a large, round, psychologically significant number. However, any pullback at this point time should end up being a buying opportunity as the market has such a massive amount of buying pressure underneath it. That being the case, we have no interest whatsoever in selling this market, and we believe the pullbacks just offer value in the US dollar going forward.
