The USD/JPY pair initially tried to rally during the course of the session on Wednesday, but turn right back around to form some type of shooting star. This being the case, it’s likely that we will have to go looking for support at lower levels and as a result it would not surprise me at all if the market drops from here. However, I am looking for buying opportunities as the Bank of Japan will almost certainly get involved if we drop from here. The 100 level continues to be the “floor” in this market as far as I can see.
