The USD/JPY pair rose slightly during the course of the session on Thursday, but you have to keep in mind that it was a fairly illiquid market as the Thanksgiving holiday was celebrated in the United States. At this moment, we feel that the market should continue to see consolidation, between the 122 level on the bottom, and the 123.5 level on the top. Ultimately, we believe that this market will reach towards the 125 handle, so we are buyers on supportive candles on dips. We have no interest in selling mainly because we see a “floor” at 121.
