The USD/JPY pair initially fell during the session on Thursday, but found enough support below to turn things back around and form a nice-looking hammer. That being the case, looks as if the market is ready to continue going higher given enough time, but it’s only going back and forth at the moment. We feel that ultimately though, this market should reach the 122 level, and then break out to the 125 level next. We have no interest whatsoever in selling as the US dollar is without a doubt the most favored currency in the world right now.
