The USD/JPY pair fell during the session on Tuesday, but found enough support just below the 120 level to turn things back around and form a bit of a hammer. Because of this, if we can break above the top of the hammer we are buyers as the market should then continue to head towards the 122 handle. Ultimately, we believe that every time this market pulls back there should be a buying opportunity presenting itself. We have no interest in selling, and as a result we believe that this is more or less a “buy only” market.
