The USD/JPY pair initially tried to rally during the course of the session on Thursday, but found enough resistance of the 122 level to turn things back around and form a bit of a shooting star. However, the reality is that the area just below is massively supportive, and if we can clear the 122 handle, we should then go to the 125 level. With this, we are buyers of pullbacks and show signs of support, and of course a break out above the shooting star. The Nonfarm Payroll numbers quite often move this market, and today shouldn’t be any different.
