The USD/JPY pair broke higher during the course of the session here on Wednesday, as we continue to go to the upside. The 105 level above is the longer-term target, and I believe that pullbacks will continue to offer value as the Bank of Japan will almost certainly work against any selling of this market. Ultimately, I believe pullbacks will be the way to play this market as we may not go straight to the upside, but I do believe that there is quite a bit of bullish pressure underneath at this point in time.
