The USD/JPY pair initially tried to fall a bit during the session on Wednesday, but found the 123 level to be supportive enough to continue to push this market towards the 125 handle. We reached as high as the 124 handle during the session, and this market is without a doubt very bullish. Because of this, we feel that the market is essentially “buy only” at the moment, and as a result we are looking at every pullback as value in order to continue to go long and add to our position going forward.
