The USD/JPY pair fell during the course of the session on Thursday, testing the 120 handle. However, we had enough support at that area to turn the market back around and keep the market somewhat afloat. With this, we believe that a break above the top of the range for Thursday would be a buying opportunity, as the Nonfarm Payroll Numbers tend to have massive amounts of influence on this particular currency pair. We believe ultimately this market will go higher, but at this point in time we need to see some bullishness in order to get involved.
