The USD/JPY pair initially fell during the course of the session on Friday, but found enough support at the 118 level to turn things back around and form a hammer. That hammer of course suggests that the market is going to continue to grind higher and try to break out above the 120 handle. With that, we are buyers on dips, but recognize that the overall vibe of the market will be choppy more than anything else. With that, you are going to have to be able to hang on through volatility in order to start buying.
