The USD/JPY pair fell slightly during the course of the session on Friday, but we do continue to look fairly positive. We believe that if we do fall from here, people will look at it as potential “value” in the US dollar, as it appears that we are trying to form some type of base. Keep in mind that there is a Federal Reserve interest rate statement later this week, and as a result this market might be fairly quiet until we get to that point. We do believe given enough time though we are going to rally. A move above the 122 level has us buying, just as a supportive candle below will as well.
