The USD/JPY pair fell slightly during the course of the session on Monday, as we continue to bounce around the 120 level. With this, the market looks as if it is simply ready to stand still at this point, and with that we are not trading this particular currency pair at the moment. Any type of pullback at this point in time should see a bit of support near the 118.50 level. On the other hand, if we break above the 121 handle, the market should continue to go much higher. In the meantime, expect a lot of bouncing back and forth in this general vicinity.
