The USD/JPY pair went back and forth during the course of the session on Thursday, essentially forming a rather neutral candle. The 123.50 level seems to be a bit of an epicenter of the range, but we believe ultimately this market will probably pull back a little bit from here, offering a buying opportunity closer to the 122.50 level. If there is a supportive candle, we would be buyers as we think this market will continue to consolidate in general, but with an upward bias. With that, we have no interest whatsoever in selling and are simply looking for opportunities to go long again.
