The USD/JPY pair fell slightly during the course of the day on Monday, as we continue to hover above the 100 level. I believe that the 100 level will be very influential in this market, as the Bank of Japan looks very likely to defend this general vicinity. A supportive candle could be a short-term buying opportunity, but as far selling is concerned, I would have to this market break down below the 99.50 level in order to start selling. Given enough time, we think that the Bank of Japan will get its own way.
