The USD/JPY pair initially rose during the session on Thursday, but found a little bit of resistance above the 190 handle. With that, we ended up forming a little bit of a shooting star, but quite frankly the market looks like it’s ready to grind away in this general vicinity. The 118 level below should be supportive, and quite frankly this is a one-way trade as far as we can see. The 120 level above is the target, and eventually the 122 level. We have no interest whatsoever in selling this marketplace.
