The USD/JPY pair fell a bit during the day on Wednesday, but did bounce before was all said and done. Because of this, looks like we are ready to consolidate at this point in time. We have no interest whatsoever in trading this market at the moment, as the support below seem to be very strong. At this point in time though, I don’t have any interest in buying this market either. I believe short-term traders will more than likely go back and forth over the next couple of days. Ultimately though, I believe that we will see bearish pressure.
