The USD/JPY pair fell during most of the session on Monday, as the world reacted to the situation in Greece. However, at the end of the day the reality is that the market places do seem to be finding a bit of support as we close. The 122 level of course has been important in the USD/JPY pair, so it’s not a surprise to us if this market continues to go higher. We are buyers and not sellers, but do recognize that a little bit of volatility may have to be tolerated in the meantime in order to trade this market.
