The USD/JPY pair went back and forth during the course of the day on Tuesday, but then turned right back around to form a slightly positive candle. By doing so, the market looks as if we are going back and forth and therefore we are going to continue to see quite a bit of volatility. I believe this volatility will eventually offer enough support in order to start buying, and that we could reach towards the 104 handle. I believe that the 100 level below is essentially the “floor” in this marketplace.
