The USD/JPY pair fell during the course of the session on Friday, testing the 170 level. By doing so, it looks as if we are ready to start falling again, and if we break below the bottom of the range for the session on Friday, we feel the market will then reach towards the 115 level. At this point in time, we believe that the 118.50 level above is resistive, so exhaustive candles between here and there will be thought of as selling opportunities. Until we get above the 118.50 level though, we will not be willing to buy this market.
