The USD/JPY pair fell slightly during the course of the day on Thursday, as we continue to see a bit of softness in this pair. However, there is a significant amount of support below so we do not think that this market going to absolutely fall apart at this point. We think it’s going to be more or less a slow grind, and of course short-term rallies could be selling opportunities as well. The 115 level should continue to be a very resistant area, so it’s not until we get above there that we can even remotely think about buying this market.
