The USD/JPY pair initially fell during the day on Tuesday but found enough support again to turn things around and form a rather positive candle. We are above the 112 level now, and it looks as if we are going to grind away towards the 114.50 level. Because of this, we are buyers on short-term pullbacks and of course moves above the top of the range for the day. We recognize that there will be a lot of noise above, so we have to deal with volatility if we are going to start going long. We have no interest in shorting.