The USD/JPY pair broke higher initially during the session on Tuesday, but turned back around in order to form a somewhat negative candle. However, we have no interest in selling this pair as we believe that it’s in a longer-term uptrend, so therefore we are waiting for some type of supportive candle below in order to start going long, as the market should offer plenty of support all the way down to the 115 level. Eventually, we will break out to the upside in our opinion, and offer a “buy and hold” opportunity.
