The USD/JPY pair bounced slightly during the course of the session on Friday, as the 100 level offered a bit of support. This being the case, the market looks as if it could bounce from here, but there is a significant amount of noise above that should continue to put pressure on this market. The Bank of Japan below should be interested, so if we break down I think that you would have to be very cautious about any potential intervention or quantitative easing going forward. With this, it’s likely that the market will be volatile.
