The USD/JPY pair initially fell during the day on Wednesday but turned back around to form a bit of a supportive candle as the 112 level continues offer support. Ultimately, the market should grind its way towards the 114.50 level, which of course was resistance previously. The 115 level above there is the level that we need to clear in order to buy for any real length of time. However, it is a fairly decent suggestion that we could go higher from here but it is more than likely going to be a short-term move at best.
