The USD/JPY pair went back and forth during the course of the session on Thursday, as we continue to grind just below the 124 handle. With this, we feel that the market will eventually find enough support, but we need to see a supportive candle or a bounce in order to start buying. That being the case, we would actually buy supportive candles below as they could represent value in the US dollar. Ultimately, the market should continue to go higher over the longer term, as the Bank of Japan continues to work against the value of the yen.
