The USD/JPY pair went back and forth during the day but settled on a slightly positive candle. It appears that the market is basically “stuck” to the 120 handle. Because of this, we are simply sitting on the sidelines and waiting for either an impulsive candle to the upside, or some type of supportive candle below in order to pick up value. If we can break above the 122 handle, the market should then reach towards the 125 level. As far selling is concerned, we have no interest whatsoever in doing so.
