The USD/JPY pair fell hard during the course of the session on Tuesday, but found enough support just above the 115 level to form a little bit of a hammer. That being the case, we feel that this market can be bought on signs of support on even short-term charts. We have no interest in selling this pair anyway, so that being the case we are only buyers. Ultimately, we believe this pair breaks out much higher to the upside, but recognize that there might be a little bit of profit taking in the interim.
