The USD/JPY pair fell during the session on Thursday, but remained within the hammer that had formed on Wednesday. Because of this, we think that the buyers will probably step back in, but we need to see some type of supportive candle in order to start going long as it would be a continuation of the consolidation that we’ve seen for some time. Because of this, we are on the sidelines but we are looking for that potential buying opportunity that should send this market back to the 120 level. We don’t have any interest in selling.
