The USD/JPY pair fell significantly during the course of the session on Friday, breaking well below the 100 level at one point. However, the market turned around and formed a massive hammer, so if we can break above the top of the range for the Friday session, that could be a very bullish sign. However, it’s very likely that we will continue to see sellers step into this marketplace as it tends to be a very risk sensitive market. Short-term charts will probably be the way to get involved in this market though, as the range was so large from the daily candle.
