The USD/JPY pair went back and forth during the course of the session on Thursday, as we continue to bounce around just below the 120 level. With the nonfarm payroll numbers coming out today, it’s very likely that we will see a lot of volatility due to the announcement. This market tends to react quite significantly to this announcement, so if we get a better than anticipated employment number, this market could go much higher. If it doesn’t, we will look at pullbacks as buying opportunities as this market certainly looks well supported.
