The USD/JPY pair went back and forth during the course of the day on Wednesday, as we continue to be attracted to the 110 handle. If we can break above the top of the shooting star from last week, the market very well could then go to the 112 handle given enough time. However, expect quite a bit of volatility regardless what happens, and as a result you will have to be able to deal with the massive amount of pressure in both directions that we will see. At this point, we expect the 109 level to be supportive.
