The USD/JPY pair initially tried to rally during the course of the session on Friday, but turned right back around in order to form a bit of a shooting star. This suggests that we are going to continue to see bearish pressure, but this point in time I believe that the USD/JPY pair will continue to see quite a bit of selling. Any rally at this point in time should be a selling opportunity as well, as the 110 level above should continue to form a bit of a ceiling in this market.
